NEW YORK (TheStreet) -- Here are 10 things you should know for Friday, July 25:
European stocks were mixed, as banks pulled markets up and LMVH's soft numbers pushed them down.
2. -- The economic calendar in the U.S. on Friday includes durable good orders for June at 8:30 a.m. EDT.
The U.S. jobless claims report was a positive for markets after initial jobless claims for the week of July 19 fell by 19,000 to a smaller-than-expected 284,000, the lowest level since Feb. 18, 2006.
The Dow closed down 0.02% to 17,083.8. The S&P 500 gained 0.05% to 1,987.96. The Nasdaq (QQQ) slipped 0.04% to 4,472.11.
4. -- Real estate site Zillow (Z) is seeking to buy out rival Trulia (TRLA) for up to $2 billion in cash and stock. Both companies collect fees from real-estate agents as well as advertising revenue on a combined 85 million unique visitors in June alone.
Trulia stock rose 32% Thursday to close at $53.74, but is down nearly 4% in after-hours trading. Zillow stock rose 15% yesterday to close at $145.76, and softened slightly by 0.9% in after-hours trading.
Zillow CEO Spencer Rascoff has also overseen acquisitions of Retsly Software this month, Streeteasy.com in 2013 and HotPads in 2012. The proposed deal would be Zillow's largest acquisition and would consolidate the industry.
5. -- Amazon (AMZN - Get Report), the online retailing giant, reported second-quarter losses almost twice what Wall Street analysts forecasted. The company also said that the third quarter results would be even worse. The company claimed that its long-term strategy would make it profitable in the end.
Investors responded by running for the exits. Amazon shares fell 10% in after-hours trading Thursday night and early Friday morning. Shares closed Thursday at $358.61, but were trading at $322.89 in the after-hours market.
6. -- Rupert Murdoch isn't just convulsing American media markets with his 21st Century Fox (FOXA) bid for Time Warner TWX. His BSkyB (BSYBY) British TV company is looking to spend $9 billion to buy Fox's pay-TV stations in Germany and Italy.
Less than one-third of British households have bought pay-TV, and Murdoch's move seeks to change that. Still, shareholders of BSkyB were skeptical, and shares fell nearly 5% on the London markets.