Morning Briefing: 10 Things You Should Know
NEW YORK (
) -- U.S. stock futures suggested Wall Street would open lower Wednesday as investors fretted about the slow pace of negotiations over the so-called U.S.fiscal cliff.
European stocks were falling whiles Asian shares ended Wednesday's trading session in the red. Japan's Nikkei 225 index fell 1.2% to close at 9,308.35.
The economic calendar in the U.S. Wednesday includes new-home sales for October at 10 a.m. EST, and the release of the
Federal Reserve's
beige book survey on economic conditions for October at 2 p.m.
on Tuesday finished with losses amid lingering concerns about the progress of budget talks on Capitol Hill.
The
Dow Jones Industrial Average
lost more than 89 points, or 0.69%, to close at 12,878.
Green Mountain Coffee Roasters
(GMCR)
blew past Wall Street's expectations in its fiscal fourth quarter.
For its fiscal first quarter ending in December, Green Mountain forecast non-GAAP earnings of 62 cents to 67 cents a share and total sales growth of 14% to 18%. The current consensus view is for a profit of 59 cents a share.
Costco Wholesale
(COST) - Get Report
, the warehouse retailer, plans to pay a special dividend of $7 a share, or about $3 billion. It also said Wednesday that first-quarter sales jumped 10%.
Earnings are expected Wednesday from
American Eagle Outfitters
(AEO) - Get Report
,
Coldwater Creek
(CWTR)
,
Express
(EXPR) - Get Report
,
Fresh Market
(TFM)
,
Guess?
(GES) - Get Report
,
Jos. A. Bank Clothiers
(JOSB)
,
La-Z-Boy
(LZB) - Get Report
,
Movado Group
(MOV) - Get Report
,
New York & Co.
(NWY)
,
Pall
(PLL) - Get Report
and
TiVo
(TIVO) - Get Report
.
Virtu Financial
has emerged as the early front-runner to buy
Knight Capital Group
(KCG)
in a deal expected to value the brokerage firm at more than $1 billion,
The Wall Street Journal
reported, citing people briefed about the continuing sale talks.
In tech news,
Apple
(AAPL) - Get Report
reportedly fired William Richardson, the tech giant's senior director of iOS services, over the failure of its new Maps app, while
Groupon
(GRPN) - Get Report
co-founder Andrew Mason could be on his way out as CEO, according to a report.
-- Written by Joseph Woelfel
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Joseph Woelfel
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