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March 14 Premarket Briefing: 10 Things You Should Know

Stocks in this article: HLF SIRI BP LMCA ARO PEP CTB GM

Here are 10 things you should know for Friday, March 14:   

1.-- U.S. stock futures were pointing higher Friday, though market participants were bracing for a choppier trading session amid concerns about China's growth and heightened global tensions over Ukraine.

2.-- The economic calendar in the U.S. on Friday includes the Producer Price Index for February at 8:30 a.m. EDT and the University of Michigan Sentiment Index for March at 9:55 a.m.

3.-- U.S. stocks on Thursday tumbled the most in a month as fears about China's slowing economy and the crisis in Ukraine gripped investors, and outweighed an increase in retail sales.  The  Dow Jones Industrial Average plummeted 230 points, or 1.4%, to close at 16,110.08, while the  S&P 500 dropped 1.2% to 1,846.35. The  Nasdaq slumped 1.5% to 4,260.42.

4.-- Herbalife (HLF - Get Report) said it pushed back the date of its annual shareholder meeting by five days to April 29 so it can continue talks with activist investor Carl Icahn about adding his nominees to its board.

5. -- Liberty Media (LMCA) dropped its bid to buy the remaining stake of Sirius (SIRI - Get Report) that it doesn't already own.

Liberty offered to buy out minority shareholders in Sirius in a deal worth more than $10 billion, but said Thursday the "offer for Sirius XM is no longer applicable."

Liberty shares rose 6.6% in premarket trading to $134.48; Sirius shares fell 0.6% to $3.35.

6. -- BP (BP - Get Report) can secure new government contracts under an agreement reached Thursday with the U.S. Environmental Protection Agency.

The oil company had been suspended from performing any new government work since November 2012, after it agreed to plead guilty and to pay a $4.5 billion fine for criminal charges involving the death of 11 workers and lying to Congress about how much oil was spilling into the Gulf of Mexico. 

BP shares rose 0.1% in premarket trading.

7. -- Teen retailer Aeropostale (ARO) posted a fourth-quarter loss of $70.3 million, or 90 cents a share, wider than a year-earlier loss of $671,000, or 1 cent a share.

Sales fell 16% and same-store sales during the quarter declined 15%.

The company also reached a deal with private-equity firm Sycamore Partners for a 5% stake.

The stock fell 13.8% in premarket trading to $6.29.

8. -- Nelson Peltz, whose bid to break up PepsiCo (PEP) was rejected by management, fired back in a letter to the board Thursday, criticizing its "dismissive tone" and demanding operational changes, Bloomberg reported.

9. -- Cooper Tire & Rubber (CTB) reported on Friday fourth-quarter earnings of 31 cents a share; analysts expected 26 cents. 

10.-- U.S. safety regulators have recorded 303 deaths when airbags failed to deploy in 1.6 million compact cars recalled last month by General Motors (GM), according to a study released Thursday night safety watchdog group The Center for Auto Safety.

-- Written by Joseph Woelfel

To contact the writer of this article, click here:Joseph Woelfel

To submit a news tip, send an email to:tips@thestreet.com.

Follow @josephwoe58

 

Copyright 2014 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

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