NEW YORK (

TheStreet

) -- Here are 10 things you should know for Friday, May 24:

1.

--

U.S. stock futures

were pointing to a lower open Friday and signaling a third day of declines for the

S&P 500

as investors awaited a report on durable-goods orders.

Sentiment remained subdued as the market continued to ponder the possibility of a pullback in

Federal Reserve

stimulus and remained jittery about the state of China's economic strength.

2.

-- The

economic calendar

in the U.S. Friday includes durable-goods orders for April at 8:30 a.m. EDT.

3.

--

U.S. stocks

on Thursday closed lower after a choppy trading session, as investors worried the

Federal Reserve

would scale back stimulus and China could be headed for a slowdown.

The

S&P 500

closed down 0.29% to 1,650.51.

4.

--

Procter & Gamble

(PG) - Get Report

is bringing back

A.G. Lafley

as CEO of the consumer products giant in an effort to boost slow sales growth.

Lafley will replace CEO Bob McDonald, effective immediately. McDonald, who will retire June 30 after a transition period, has been CEO since 2009.

Lafley, who served as CEO of the company from 2000 to 2009, also was named chairman and president.

5.

--

Lois Lerner

, the Internal Revenue Service supervisor whose agents targeted conservative groups, was placed on administrative leave from her position as the director for the agency's tax-exempt organizations division as of Thursday, according to lawmakers,

The Wall Street Journal

reported.

6.

-- The Federal Trade Commission is in the early stages of an

antitrust probe

into whether search giant

Google

(GOOG) - Get Report

breaks antitrust law in how it handles some advertising sales,

Reuters

reported, citing a source.

7.

--

Dish Network

(DISH) - Get Report

took a step closer to arranging $9 billion in committed financing for its $25.5 billion bid for

Sprint

(S) - Get Report

, the

Journal

reported, citing people familiar with the matter.

Dish received signed commitment letters from five banks

, including Barclays Bank and Jefferies & Co., the people told the newspaper. Including about $2.6 billion it raised in bonds last week, Dish ow has raised close to $12 billion for the deal.

8.

--

Pandora Media

(P)

, the online radio service, on Thursday posted first-quarter revenue that topped expectations.

The company's

revenue outlook

also topped Wall Street estimates as its mobile advertising sales accelerated and the company added more subscribers during the quarter.

9.

--

Salesforce.com

(CRM) - Get Report

reported

first-quarter results

and an outlook on Thursday that either only matched or came in below estimates as its efforts to strengthen its presence in marketing software appears to going more slowly than expected.

10.

--

Abercrombie & Fitch

(ANF) - Get Report

posted a first-quarter loss of 9 cents a share as sales fell 9% to $839 million.

Analysts expected the retailer Friday to post a first-quarter loss of 5 cents a share on revenue of $941.3 million.

-- Written by Joseph Woelfel

>To contact the writer of this article, click here:

Joseph Woelfel

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.

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