Nov. 12 Premarket Briefing: 10 Things You Should Know

U.S. stock futures rise slightly Thursday ahead of remarks from a number of top Federal Reserve officials.
By Joseph Woelfel ,

Here are 10 things you should know for Thursday, Nov. 12:

1. -- U.S. stock futures rose slightly Thursday ahead of remarks from a number of top Federal Reserve officials as investors come to grips with the realization that interest rates are likely to be hiked next month.

Fed Chair Janet Yellen is scheduled to deliver opening remarks at a conference on monetary policy implementation, while Vice Chair Stanley Fischer is to speak at the same conference on Thursday.

European stocks were trading lower Thursday. Asian shares ended the trading session mixed. Japan's Nikkei 225 index rose less than 0.1%.

2. -- The economic calendar in the U.S. on Thursday includes weekly initial jobless claims at 8:30 a.m. EST, the Job Openings and Labor Turnover Survey for September at 10 a.m., and the Treasury budget for October at 2 p.m. 

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3. -- U.S. stocks on Wednesday fluctuated but ended with losses after lower oil prices and declining retail sales took a toll on the energy and retail sectors.

The S&P 500 closed down 0.26%, Dow Jones Industrial Average fell 0.21%, and the Nasdaq declined 0.22%.

4. -- Apple (AAPL) - Get Report is in discussions with U.S. banks to develop a payment service that would let users zap money to one another from their phones rather than relying on cash or checks, The Wall Street Journal reported, citing people familiar with the matter.

The talks with banks are continuing and it's unclear if any of the firms have struck an agreement with the tech giant, the people told the Journal. Key details remain in flux, including technical aspects that would determine how the service would tie into the banking industry's existing infrastructure, the people said.

If Apple's plans go forward, the service would likely be similar to PayPal's (PYPL) - Get Report  Venmo platform, which is popular among younger consumers to do things such as pitch in on gifts and share rent payments with roommates, the Journal noted.

5. -- Morgan Stanley (MS) - Get Report plans to offer savings accounts and certificates of deposits next year to wring more profit from its wealth management clients, executives told Reuters.

The bank has offered checking accounts and credit cards for years, but it is launching more consumer banking products and giving brokers bonuses if clients use them.

The goal is to win more of the assets that customers keep at rivals such as JPMorgan Chase or Bank of America, according to Reuters. Right now, just 1% of Morgan Stanley's more than 3.5 million wealth management clients actively use its retail banking products.

6. -- IAC/InterActiveCorp (IACI) offered to acquire Angie's List (ANGI) - Get Report for $8.75 a share or more than $500 million in cash and stock.

IAC's proposal represents a premium of almost 11% over Angie's List's closing price Wednesday of $7.92. 

The deal would be all cash. However, IAC indicated it was willing to consider a combination of Angie's List with its own HomeAdvisor business through a tax-free stock-for-stock exchange.

The offer comes a month after shareholder TCS Capital urged the board of Angie's List -- which lets users research, shop for and rate local plumbers, home cleaners and other home services -- to consider a combination with competitor HomeAdvisor, saying it could lead to significant cost savings and end a marketing battle between the two. 

7. -- Walmart (WMT) - Get Report said it's offering most of the same Black Friday "doorbuster" deals online and in stores for the first time and giving online shoppers an early jump on the sales.

The world's largest retailer is heading into the holiday season with a turnaround plan after being battered by the economy and tough competition. 

Most -- about 96% -- of deals offered the holiday will be offered both online starting at 3:01 a.m. EST on Thanksgiving morning, and in stores starting at 6 p.m. on Thanksgiving Day, The Associated Press reported.


8.
-- The head of daily fantasy sports Web site FanDuel told his New York customers Wednesday they should keep on entering the company's contests, despite a warning from the state's attorney general that they amount to illegal gambling.

FanDuel's Nigel Eccles said the company's lawyers will try to persuade Attorney General Eric Schneiderman over the next five days that their business is lawful and that its 500,000 customers in the state should be able to keep playing.

It remains unclear what will happen when that time passes.

In cease-and-desist letters sent by Schneiderman's office Tuesday to New York-based-FanDuel and rival DraftKings, the state's top lawman said the companies were violating state gambling laws and offered games of chance, not skill.

9. -- A U.S. judge said Valeant Pharmaceuticals (VRX)  and activist hedge fund manager William Ackman must face a lawsuit accusing them of insider trading in Allergan (AGN) - Get Report  before making an unsuccessful takeover bid for the maker of Botox, Reuters reported.

In a Nov. 9 decision, U.S. District Judge David Carter in Santa Ana, Calif., rejected arguments by Valeant, Ackman and Ackman's Pershing Square Capital Management that the lawsuit should be dismissed because their activity was not fraudulent, Reuters reported.

10. -- Earnings are expected Thursday from Cisco (CSCO) - Get Report , Kohl's (KSS) - Get Report and Viacom (VIAB) - Get Report .

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