Updated from 7 a.m. EDT
Here are 10 things you should know for Thursday, April 10:
1.-- U.S. stock futures were pointing to a weaker start for Wall Street on Thursday as investors began to reassess Federal Reserve minutes which showed loose monetary policy would remain in place for some time.
European stocks were mixed in early trading on Thursday. Asian shares ended the session mostly higher despite worse-than-expected Chinese trade figures.
2.-- The economic calendar in the U.S. on Thursday includes weekly initial jobless claims at 8:30 a.m. EDT, export and import prices for March at 8:30 a.m., and the Treasury budget for March at 2 p.m.
3.-- U.S. stocks on Wednesday closed higher as minutes from the Federal Reserve's March policy meeting indicated some members wondered whether enough stimulus has been injected into the economy.Gains were sustained throughout the day after bellwether Alcoa (AA) beat Wall Street earnings estimates to unofficially kick off first-quarter earnings season. Technology stocks also buoyed markets as the sector continued its recovery. The Dow Jones Industrial Average closed 1.11% higher at 16,437.18 while the S&P 500 rose 1.09% to 1,872.18. The Nasdaq gained 1.72% to close at 4,183.9. 4. -- BlackBerry (BBRY) would consider exiting its handset business if it remains unprofitable, CEO John Chen told Reuters on Wednesday, as the technology company looks to expand its corporate reach with investments, acquisitions and partnerships. "If I cannot make money on handsets, I will not be in the handset business," Chen said in an interview, adding that the time frame for such a decision was short. He would not be more specific, but said it should be possible to make money off shipments of as few as 10 million a year. At its peak, BlackBerry shipped 52.3 million devices in fiscal 2011, while it recorded revenue on less than 2 million last quarter, according to Reuters.
BlackBerry shares rose 0.9% in premarket trading on Thursday to $8.03. 5. -- JPMorgan Chase (JPM) Chairman and CEO Jamie Dimon's total compensation fell 37% last year to $11.8 million as the nation's largest investment bank grappled with billions in legal costs and fines.
The CEO's total compensation fell from $18.7 million in 2012, according to regulatory documents filed by the bank Wednesday. 6. -- Walmart (WMT) has teamed up with Wild Oats to sell a new line of organic foods, starting this month, that's at least 25% cheaper than the national organic brands it carries and in line with the prices of its branded non-organic alternatives. Wild Oats helped pioneer the organic food trend in the late 1980s but has largely disappeared from store shelves since 2007. Walmart is unveiling nearly 100 pantry items over the next several months, adding to the 1,600 organic food items it already carries in its stores. It's taking a cautious approach, planning to have them in about half of its 4,000 domestic namesake stores as it wants to make sure it can satisfy demand.
7. -- Apple (AAPL), in an internal email, said Greg Christie, who led the company's "human interface" team that designs software for its products, is retiring, The Wall Street Journal reported, citing people who have seen the email. Christie's group will report to Jonathan Ive, who is Apple's senior vice president of design, according to the email. The team previously reported to Craig Federighi, Apple's software chief.
Apple shares rose 0.4% in premarket trading to $532.51. 8. -- Rite Aid (RAD) posted fourth-quarter profit of 6 cents a share, down from a year-earlier 13 cents a share. Adjusted earnings in the latest quarter were 10 cents a share; analysts were looking for 4 cents.
The stock rose 9.4% in premarket trading to $7.
The stock rose 3.7% in premarket trading to $18.90. 10. -- The Treasury Department raised $2.38 billion after selling a large chunk of its stock in Ally Financial as part of the government's ongoing effort to recoup the billions of dollars spent bailing out companies during the 2008 financial crisis. Treasury said Wednesday that it got $25 each for the 95 million shares it sold in an initial public offering. The pricing of the IPO came at the low end of the forecast range of $25 to $28 per share.
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