This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

March 21 Premarket Briefing: 10 Things You Should Know

Updated from 7 a.m. EDT

Here are 10 things you should know for Friday, March 21:    

1.-- U.S. stock futures were rising Friday, with the benchmark indices looking at weekly increases of nearly 2%, as encouraging signs on the U.S. economy helped offset surprisingly hawkish statements from Federal Reserve Chairwoman Janet Yellen on Wednesday.

2.-- The economic calendar in the U.S. on Friday is bare.

3.-- U.S. stocks on Thursday rebounded following a spate of housing and manufacturing data that underscored the ongoing economic recovery. 

Must Read: TheStreet's Free March Madness Open House Weekend Tips Off

The  Dow Jones Industrial Average closed up 0.67% to 16,331.05, while the  S&P 500 added 0.6% to finish at 1,872.01. The  Nasdaq gained 0.27% to close at 4,319.29.

4.-- The Federal Reserve's annual "stress tests" of the 30 biggest U.S. banks found that all but one of them passed muster with sufficient capital buffers to keep them lending through an economic crisis.

Zions Bancorp (ZION) fell short. The bank posted a fourth-quarter loss as it booked hefty charges related to losses on investment securities and other one-time items. 

The stock fell 1.3% in premarket trading to $32.56.

5. -- Turkey blocked access to Twitter (TWTR - Get Report) on Friday after Prime Minister Recep Tayyip Erdogan threatened to "rip out the roots" of the social network where links have proliferated to recordings that appear to incriminate him and other top officials in corruption.

The new comes on the same day that Twitter celebrates its eighth anniversary.

Twitter shares fell 0.1%.

6. -- Luxury jewelry retailer Tiffany (TIF) reported a fourth-quarter loss, dragged down by a hefty charge tied to an unfavorable arbitration ruling. 

Adjusted earnings missed Wall Street expectations and its forecast for the year also was short of expectations. 

Tiffany shares fell 2.7% to $88.75.

7. -- Symantec's (SYMC - Get Report) board terminated Steve Bennett as president and CEO after less than two years at the head of the software maker.

Bennett's departure comes just 20 months after he took the company's reins from Enrique Salem. The former Intuit CEO vowed to breathe new life into Symantec, which had long been criticized for poor execution. Last January, he announced his turnaround plan for the company, which involved streamlining, a complete shift in the company's sales coverage model and a focus on 10 core areas, including information-security services, security gateways, data-center security and storage.

In November, however, he acknowledged that he underestimated the impact of the massive restructuring effort but said he remained confident in his turnaround plan.

Symantec shares were down 9.8% in premarket trading at $18.86.

8. -- Darden Restaurants (DRI) posted fiscal third-quarter earnings of 82 cents a share, in line with estimates. The stock

 -- Nike (NKE) posted fiscal third-quarter net income on Thursday that beat Wall Street expectations.

The sports equipment and apparel maker said orders set to be delivered between March and July rose 12% to $10.9 billion. But future orders in China, where Nike has seen slowing growth, fell 1%.

The company said it will continue to be hurt by the stronger dollar this quarter. 

Nike shares fell 2.6% in premarket trading to $77.20.

10.-- Fitch Ratings affirmed the U.S.'s long-term foreign and local currency issuer default ratings at 'AAA' with stable outlooks. The rating action resolved the negative outlook on which the ratings had been placed previously.

-- Written by Joseph Woelfel

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

To submit a news tip, send an email

Follow @josephwoe58


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

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
SYMC $19.15 0.00%
TWTR $15.88 0.00%
AAPL $93.99 0.00%
FB $102.01 0.00%
GOOG $682.40 0.00%


Chart of I:DJI
DOW 15,973.84 +313.66 2.00%
S&P 500 1,864.78 +35.70 1.95%
NASDAQ 4,337.5120 +70.6750 1.66%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs