Morning Briefing: 10 Things You Should Know

NEW YORK ( TheStreet) -- U.S. stock futures suggested a lower Wall Street open Friday amid worse-than-expected corporate earnings reports.

European stocks were falling as investors awaited progress from a summit on the region's debt crisis. Asian shares ended Friday's trading session mixed. Japan's Nikkei 225 index rose 0.2% to finish at 9,002.68.


The economic calendar in the U.S. Friday includes the existing home sales report for September from the National Association of Realtors at 10 a.m. EDT.


U.S. stocks on Thursday finished lower after the surprise early release of disappointing quarterly results by Google ( GOOG) threw the markets for a loop.

Google blamed supply chain and printing specialist R.R.Donnelly for the embarrassing leak that wound up disappointing investors after the Internet search giant missed both Wall Street's top- and bottom-line estimates.

The Dow Jones Industrial Average finished down 8 points Thursday, or 0.06%, at 13,549.


Microsoft ( MSFT), the software giant, reported a year-over-year decline in operating income for its fiscal first quarter, citing slow PC demand ahead of its Windows 8 launch. Quarterly profit fell 22%, the company said Thursday.


General Electric ( GE) is expected to report its third-quarter results before the opening bell Friday and analysts expect the industrial conglomerate to post earnings of 36 cents a share in the September-ended period on revenue of $36.94 billion.


McDonald's ( MCD), the fast-food giant, also reports Friday morning and Wall Street is looking for a quarterly profit of $1.47 a share on revenue of $7.15 billion.


Other reports due Friday include Air Products & Chemicals ( APD), Baker Hughes ( BHI), Cooper Industries ( CBE), First Horizon National ( FHN), First Niagara Financial ( FNFG), Honeywell ( HON), Ingersoll-Rand ( IR), Kansas City Southern ( KSU), McMoRan Exploration ( MMR), Parker-Hannifin ( PH), Popular ( BPOP), RadioShack ( RSH), and Schlumberger ( SLB).


Softbank CEO Masayoshi Son told The Wall Street Journal he wouldn't rule out further deals in the U.S. even as he focuses on closing the acquisition of Sprint ( S).

"We shouldn't rule out any opportunity or alternative," Son told the newspaper in an interview.


Archer Daniels Midland ( ADM) purchased 10% of Australia's GrainCorp, valuing the grains company at A$2.7 billion.


-- Written by Joseph Woelfel

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Copyright 2012 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

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