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

April 24 Premarket Briefing: 10 Things You Should Know

Updated from 6:38 a.m. EDT

Here are 10 things you should know for Thursday, April 24:

-- U.S. stock futures were rising and European shares gained as two U.S. technology giants posted strong earnings.

Stocks in Tokyo slipped after talks between Japan's prime minister and visiting President Obama failed to finalize a trade agreement. The Nikkei 225 fell 1%.

2. -- The economic calendar in the U.S. on Thursday includes weekly initial jobless claims at 8:30 a.m. EDT, and durable-goods orders for March at 8:30 a.m.

3. -- U.S. stocks on Wednesday slipped amid tepid Chinese economic data and a 14.5% month-over-month drop in U.S. new-home sales.

The Dow Jones Industrial Average lost 0.08% to close at 16,501.65, while the S&P 500 closed off 0.22% to 1,875.39. The Nasdaq declined 0.83% to 4,126.97.

4. -- Apple (AAPL - Get Report), the iPhone and iPad maker, reported fiscal second-quarter earnings that topped Wall Street estimates, and it announced a 7-for-1 stock split.

Apple reported earnings of $11.62 a share on revenue of $45.6 billion. The company shipped 43.7 million iPhones, 16.4 million iPads, and 4.1 million Macs during the quarter.

Gross margin, a highly watched level for Apple, came in at 39.3%. 

For the fiscal third quarter, Apple said it expects revenue of between $36 billion and $38 billion, with gross margins between 37% and 38%. 

Apple also announced that it was raising its capital allocation program to more than $130 billion by the end of calendar year 2015. As part of the program, Apple's board increased its share repurchase authorization to $90 billion from $60 billion, and boosted its quarterly dividend by 8% to $3.29 a share.

The stock was up 8.7% in premarket trading to $570.15.

Must Read: April 23 Premarket Briefing: 10 Things You Should Know

5. -- Social media giant Facebook (FB - Get Report) posted first-quarter earnings and revenue that topped expectations as advertising revenue grew more than expected.

"Facebook's business is strong and growing, and this quarter was a great start to 2014," said founder and CEO Mark Zuckerberg in the earnings statement. "We've made some long-term bets on the future while staying focused on executing and improving our core products and business. We're in great position to continue making progress towards our mission."

Revenue for the first quarter was $2.5 billion, an increase of 72% from the first quarter of 2013. First-quarter revenue of $2.36 billion was expected by analysts.

Non-GAAP earnings in the quarter were 34 cents a share; analysts expected 24 cents.

Facebook shares rose 4.9% in premarket trading to $64.36.

6. -- Shares in French train and equipment manufacturer Alstom spiked on reports that General Electric (GE) is considering making a bid for the company.

Alstom said in a statement Thursday that it has not been "informed of any potential public tender offer for shares of the company."

GE is in discussions to pay more than $13 billion for Alstom, Bloomberg reported on Wednesday, citing people with knowledge of the matter said yesterday. 

GE shares rose 0.6% in premarket trading to $26.57.

7. -- Internet retailing giant Amazon (AMZN) is expected by analysts on Thursday to report first-quarter earnings of 23 cents a share on revenue of $19.43 billion.

Amazon announced on Wednesday that it inked an exclusive multi-year online-only subscription deal for select HBO programming to bring some of its most popular shows to Amazon Prime Members.

-- Wall Street expects software maker Microsoft (MSFT) to report fiscal third-quarter profit of 63 cents a share on revenue of $20.39 billion.

 -- General Motors (GM) reported profit of 6 cents a share in the first quarter on revenue of $37.4 billion. Analysts forecast earnings of 4 cents a share on sales of $38.4 billion.

GM shares rose 2% to $35.10 in premarket trading.

10. -- Online game maker Zynga's (ZNGA) founder Mark Pincus is stepping down as chief product officer, less than a year after he was replaced as the company's CEO, as the company's sales slide.

Zynga said Wednesday that Pincus will remain chairman of the company he founded in 2007.

Zynga shares rose 5% to $4.64 in premarket trading on Thursday.

-- 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
AAPL $93.21 -0.44%
FB $117.80 -0.22%
GOOG $701.26 0.80%
TSLA $211.34 -5.00%
YHOO $36.94 2.61%


Chart of I:DJI
DOW 17,660.71 +9.45 0.05%
S&P 500 2,050.63 -0.49 -0.02%
NASDAQ 4,717.0940 -8.5450 -0.18%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs