Here are five things you must know for Friday, Sept. 7:

1. -- Stocks Lower Ahead of U.S. Jobs Report

U.S. stock futures fell on Friday, Sept. 7, as Wall Street prepared for the announcement of tariffs from the White House on $200 billion worth of China-made goods and awaited the latest reading on the U.S. jobs market.

Contracts tied to the Dow Jones Industrial Average  fell 41 points, futures for the S&P 500 were down 4 points, and Nasdaq futures declined 13.25 points.

Donald Trump has vowed to apply the new tariffs, which range between 10% and 25%, immediately following the conclusion Thursday of a public comment period on their impact on the U.S. economy. China has said it would retaliate with its own set of tariffs.

The trade spat between the U.S. and China dinged stocks in Asia, with shares in the region falling to a fresh, 14-month low.

The economic calendar in the U.S. on Friday includes the U.S. jobs report for August at 8:30 a.m. ET. Economists surveyed by FactSet expect the U.S. to have added 189,000 jobs last month and the unemployment rate to have declined to 3.8% from 3.9%. Average hourly earnings are forecast to have risen 0.3% in August, with the year-over-year rate expected to rise to 2.8% from 2.7% in July.

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2. -- Micron Rebounds After 10% Plunge

Micron Technology Inc. (MU)  rose 1.5% in premarket trading on Friday to $45.31 after slumping nearly 10% during the previous session on what was a rough day for tech stocks in general, and for chip and chip-equipment companies in particular.

Micron's plunge came after Morgan Stanley and Baird analysts offered cautious remarks on the company, wrote TheStreet's Eric Jhonsa.

Morgan Stanley, which has been offering cautious-to-negative commentary about chip stocks for much of 2018, asserted that memory market conditions have recently been weakening. "For DRAM, demand is weakening, inventory and pricing pressures are building, and vendors are struggling to move bits ... In NAND [flash memory], there is just too much supply," according to analyst Shawn Kim.
Baird's Tristan Gerra maintained an outperform rating on Micron shares but cut his price target by $25 to $75. He argued DRAM pricing was likely peaking in the third quarter, and forecast NAND prices won't stabilize until the second half of 2019.

3. -- Broadcom Jumps on Upbeat Sales Outlook

Broadcom Inc. (AVGO)  jumped 4.8% in premarket trading after the chip and hardware maker reported third-quarter adjusted earnings of $4.98 a share, beating analysts' estimates of $4.83, and guided for fiscal fourth-quarter revenue slightly above forecasts.

Revenue in the third quarter rose to $5.06 billion from $4.46 billion a year earlier.

Broadcom estimated fourth-quarter revenue of $5.33 billion to $5.48 billion -- analysts were predicting revenue of $5.37 billion. 

Within Broadcom's wired infrastructure segment (which made up 45% of third-quarter revenue) sales of "networking and compute offload" products - which include things like Ethernet chips, optical components and custom AI/deep learning ASICs - rose more than 10% from a year earlier on strong demand from both cloud and enterprise data center end-markets. Broadcom also said it expects for this business to also see double-digit growth in the fourth quarter.

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4. -- Third Point Wants to Replace Campbell Soup Board

Third Point LLC's Dan Loeb reportedly is seeking to take over the entire board of Campbell Soup Co. (CPB)  after the snack and soup company completed a strategic review last week that didn't include a plan to auction off the whole business.

Campbell Soup last week announced that it was starting a process to divest two divisions, Campbell International and Campbell Fresh, bringing to a conclusion a three-month strategic review that was influenced heavily by the activist investor.

The Deal reported at the time that the divestitures probably weren't going to be enough to appease Loeb and his partner, a descendant of the company's one-time president and owner. Together the duo want to see Campbell sell itself outright to a "strategic buyer."

The plan to launch a total boardroom takeover was reported by The Wall Street Journal late Thursday. 

5. -- Goldman Still Considering Bitcoin Desk

Goldman Sachs Group Inc. (GS) Chief Financial Officer Marty Chavez denied a report that said the bank was planning to ditch an effort to launch a bitcoin trading desk.

"I was in New York yesterday and I was co-chairing our risk committee, and I saw the news article," said Chavez at the TechCrunch Disrupt conference. "It wasn't like we announced anything or that anything had changed for us ... I never thought I'd hear myself actually use this term, but I'd really have to describe that as 'fake news.'"

Chavez said Goldman, which is a holding in Jim Cramer's Action Alerts PLUS member club, still was considering how to offer services that involved physical bitcoin, but that it hasn't yet set a timeline for it, TechCrunch reported.

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