Here are 10 things you should know for Thursday, Feb. 13:
1.-- U.S. stock futures were pointing to a lower start for Wall Street on Thursday ahead of retail sales data.
European shares were slipping. Asian shares ended Thursday's session with losses. Japan's Nikkei 225 index declined 1.8%
2.-- The economic calendar in the U.S. on Thursday includes initial weekly jobless claims at 8:30 a.m. EST, retail sales for January at 8:30 a.m., and business inventories for December at 10 a.m.
3.-- U.S. stocks on Wednesday closed mixed, after warnings from a Federal Reserve member over the risk of asset-price bubbles offset better-than-expected data from China.
The S&P 500 was broadly flat at 1,819.26 while the Dow Jones Industrial Average closed off 0.19% to 15,963.94. The Nasdaq gained 0.24% to 4,201.29.
4.-- Comcast (CMCSA) reached an agreement to acquire Time Warner Cable (TWC) in an all-stock transaction worth roughly $159 a share, or $45 billion. The deal was confirmed Thursday morning by both companies.The new company would be by far the largest cable provider in the nation with more than 33 million subscribers, and is certain to face a tough review from the Federal Communications Commission, according to CNBC.
Time Warner Cable shares rose 11.2% in premarket trading to $150.49. Comcast shares fell 1.8% to $54.25.
For its fiscal third quarter, Cisco predicted a year-over-year revenue decline of 6% to 8%, although CEO John Chambers noted that this was an improvement from the firm's second-quarter guidance, which forecast an 8% to 10% fall in sales from the year-earlier period.
The stock fell 3.9% in premarket trading to $21.97. 6.-- A sale of Merck's (MRK) portfolio of consumer brands including Coppertone sunscreen and Claritin allergy pills is kicking into high gear, with big consumer and health care industry players expected to put in bids that could top $10 billion, The Wall Street Journal reported, citing people familiar with the matter.
Shares of Whole Foods declined 7.9% to $51.09 in premarket trading on Thursday. 8.-- PepsiCo (PEP) said fourth-quarter net income rose 5% to $1.74 billion, or $1.12 a share, up from year-earlier earnings of $1.66 billion, or $1.06 a share. Excluding charges and other items, earnings were $1.05 a share; analysts forecast $1.01 a share.
The stock fell 0.6% in premarket trading.
A filing with the Securities and Exchange Commission didn't identify what part of Graham Holdings Berkshire might be interested in buying. Graham owns Kaplan Education, six television stations, the online magazine Slate and several other ventures.
10.-- Zillow (Z),the online real estate giant, posted fourth-quarter results that beat analysts' estimates. On a non-GAAP basis, Zillow earned 20 cents a share on revenue of $58.3 million in revenue, as revenue from Marketplace increased 71% to a record $45.9 million from $26.8 million in the fourth quarter of 2012. Analysts were looking for the company to earn 7 cents a share on fourth-quarter sales of $54.43 million.
Zillow shares rose 0.2% in premarket trading on Thursday. -- Written by Joseph Woelfel
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV