NEW YORK (

TheStreet

) -- Here are 10 things you should know for Friday, May 31:

1.

--

U.S. stock futures

were sinking Friday, pointing to a lower start on Wall Street as investors awaited another round of economic reports and pondered the

Federal Reserve's

plans on stimulus.

2.

-- The

economic calendar

in the U.S. Friday includes personal income and personal spending for April at 8:30 a.m. EDT, Chicago PMI at 9:45 a.m., and the final University of Michigan sentiment index for May at 9:55 a.m.

3.

--

U.S. stocks

on Thursday rose after weaker-than-anticipated reports on U.S. growth and the housing market fueled sentiment the

Federal Reserve

will maintain its aggressive stimulus measures.

The

S&P 500

rose 0.37% to close at 1,654.41. The index is up 16% in 2013.

4.

--

Clearwire

(CLWR)

said it will delay a meeting scheduled for Friday to vote on

Sprint's

(S) - Get Report

buyout offer of $3.40 a share, following a counter bid from

Dish Network

(DISH) - Get Report

of $4.40 a share.

Clearwire said the meeting

would reconvene on June 13. Meanwhile, the company said it would talk to Dish about its offer.

5.

--

Sony

(SNE) - Get Report

has hired

Morgan Stanley

and

Citigroup

to help evaluate options for its entertainment business,

CNBC

reported.

Hedge fund manager Daniel Loeb has proposed that Sony spin off up to 20% of its movie, TV and music division.

6.

--

Procter & Gamble

(PG) - Get Report

plans to elevate

four senior executives to new top roles, a move that would publicly identify candidates to succeed returned CEO A.G. Lafley, people familiar with the matter told

The Wall Street Journal

.

7.

--

OmniVision Technologies

(OVTI)

, the semiconductor company,

posted strong earnings

on Thursday and guided well above analysts' estimates.

For the first quarter of fiscal 2015, OmniVision said it expects earnings between 35 cents and 52 cents a share; it expects sales of between $355 million and $390 million. Analysts are looking for earnings of 28 cents a share on sales of $347.2 million.

8.

--

Palo Alto Networks

(PANW) - Get Report

, the business-technology provider,

missed quarterly sales estimates

and swung to a loss, amid what it called a "tough macroeconomic environment."

9.

--

TUI Travel

, a British travel company, agreed to buy 60 of

Boeing's

(BA) - Get Report

737 MAX jets with an option to buy 90 more planes.

TUI said it was buying the planes at a "significant discount" to the list price of $6.1 billion.

10.

--

Netflix

(NFLX) - Get Report

will join the Nasdaq-100 Index on June 6, replacing

Perrigo

(PRGO) - Get Report

.

-- Written by Joseph Woelfel

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

Joseph Woelfel

>To submit a news tip, send an email to:

tips@thestreet.com

.