Here are five things you must know for Thursday, April 11:
1. -- Stocks Futures Turn Higher
U.S. stock futures turned higher Thursday as minutes from the Federal Reserve's meeting in March showed that most central bank officials believe the current pace of U.S. economic expansion warrants leaving interest rates at their current levels for the rest of this year.
However, several officials said the Fed's "patient" approach to monetary policy "would need to be reviewed regularly as the economic outlook and uncertainties surrounding the outlook evolve.
"A couple of participants noted that the 'patient' characterization should not be seen as limiting the committee's options for making policy adjustments when they are deemed appropriate," according to the minutes released Wednesday.
Contracts tied to the Dow Jones Industrial Average rose 25 points, futures for the S&P 500 were up 2.75 points, and Nasdaq futures gained 5 points. Stocks ended higher Wednesday after the release of the Fed minutes.
European stocks traded mixed Thursday after EU leaders agreed to delay Brexit for up to six months until Oct. 31.
The economic calendar in the U.S. Thursday includes weekly Jobless Claims at 8:30 a.m. ET, and the Producer Price Index for March at 8:30 a.m.
2. -- Walt Disney to Unveil Its Streaming Service
The media giant is scheduled to preview Disney+ at an investor day Thursday, making it the newest entrant into an increasingly crowded market for streaming services. Netflix is the dominant player, at 139 million subscribers as of its last earnings report, while Apple (AAPL - Get Report) aims to leverage its installed base of 1.4 billion in Apple TV channels and TV+, its recently announced a la carte streaming services.
AT&T's (T - Get Report) WarnerMedia also is expected to launch its own service this year, and, of course, Amazon (AMZN - Get Report) Prime Video has been folded into its Prime subscriptions for years.
- What the Disney+ Reveal This Week Means for Netflix, Apple and Others
- Netflix vs. Disney: Whose Streaming Service Should You Bet On?
3. -- Amazon Buys Canvas, a Warehouse Robotics Maker
Amazon confirmed the deal in a statement to TheStreet writing that Amazon and Canvas "share a common vision for a future where people work alongside robotics to further improve safety and the workplace experience." The deal was first reported by TechCrunch.
Shares of Amazon rose slightly in premarket trading on Thursday.
The Canvas acquisition is the latest development in Amazon's ongoing investment in warehouse automation, which kicked off with its 2012 acquisition of Kiva Systems (now Amazon Robotics) for $775 million. Amazon operates more than 75 fulfillment centers in North America, some using its "8th generation" automation model that merges robotics with human oversight.
Amazon didn't disclose terms of the Canvas deal, but Canvas has raised $15 million since it was founded in 2015, according to its Crunchbase profile.
Separately, Amazon and Microsoft (MSFT - Get Report) were the two companies selected to continue competing for a Pentagon cloud contract (the Joint Enterprise Defense Infrastructure, or JEDI) that could be worth about $10 billion, the Department of Defense said on Wednesday.
4. -- Bed Bath & Beyond Sinks After Posting Fiscal-Year Loss
Adjusted earnings in the quarter were $1.20 a share on revenue of $3.31 billion. The loss for the period was $1.92 a share. Wall Street was expecting the company to earn an adjusted $1.12 a share on revenue of $3.33 billion. For the fiscal year, the company posted a loss of $137.2 million - its first ever yearly loss - as sales declined 2.6%.
Comparable-store sales fell 1.4% in the quarter vs. analysts' expectations of a decline around 1.3%.
"During the fourth quarter and throughout fiscal 2018, we have been driving significant foundational change across our business," said CEO Steven Temares. "The pace of our transformation accelerated during fiscal 2018."
"In fiscal 2019, we are modeling our operating profit, even including the investments in initiatives, to stabilize, and earnings per share to grow slightly, and for both to accelerate thereafter, as the impact from many of our key initiatives grows and we take advantage of the significant operating leverage of our business," the CEO added.
The company now expects fiscal 2019 earnings of between $2.11 and $2.20 a share, excluding certain charges. Analysts polled by FactSet had forecast Bed Bath & Beyond to earn $1.80 a share in the fiscal year.
The stock declined 10.6% in premarket trading to $17.36.
Shares of Bed Bath & Beyond have risen 71.5% in 2019 amid a push from three activist firms -- Legion Partners, Macellum and Acora Advisors -- to improve the company's results. The firms are proposing to nominate 16 candidates to replace the company's current board.
5. -- National Enquirer Is for Sale
American Media, the company that owns the National Enquirer, said it is looking to sell the supermarket tabloid, along with the company's other tabloid magazines.
According to reports, American Media CEO David Pecker confirmed the tabloids were up for sale after the Washington Post reported the company has come under pressure to separate itself from the Enquirer.
The tabloid, which has thrived on scandal, was itself beset by scandals amid reports of hush payments to women who claimed they had affairs with Donald Trump.
Pecker said in a statement that AMI is more focused on its teen and active lifestyle brands, and other platforms.
The Washington Post reported the pressure to sell the tabloid came from Chatham Asset Management, which controls AMI. Chatham declined to comment to the Post. Company representatives could not be reached late Wednesday for comment .
American Media reportedly is under scrutiny from federal prosecutors regarding how it handled a story about an extramarital affair of Amazon.com founder, CEO and Chairman Jeff Bezos.