Morning Briefing: 10 Things You Should Know

NEW YORK ( TheStreet) -- Here are 10 things you should know for Wednesday, April 24:

1. -- U.S. stock futures were pointing to a fourth day of gains for the S&P 500 on Wednesday as investors anticipated a heavy day for corporate earnings, including those from aerospace giant Boeing ( BA).


2. -- The economic calendar in the U.S. Wednesday includes durable-goods orders for March at 8:30 a.m. EDT.


3. -- U.S. stocks on Tuesday closed near session highs after a Twitter hacking event -- which falsely said President Obama had been hurt in explosions at the White House -- sent the Dow Jones Industrial Average tumbling.

The S&P 500 ended up 1% on the day to 1,578.78 matching the Dow, which also rose 1% to 14,719.46.

The Nasdaq rose 1.11% to 3,269.33.


4. -- Apple ( AAPL), the iPhone, iPad and iPod maker, said Tuesday it would buy back an additional $50 billion in stock, raising its total outlay for share repurchases to more than $60 billion.

Apple also raised its quarterly dividend to $3.05 a share, an increase of 15% over its previous level.

Apple reported second-quarter earnings of $10.09 a share on revenue of $43.6 billion as iPad sales rose 65% year over year to 19.5 million units a year. The company sold 37.4 million iPhones in the quarter compared to 35.1 million in the year-earlier quarter. Apple also sold just under 4 million Macs, compared to 4 million in the year-earlier quarter.


5. -- Ford's ( F) first-quarter net income rose 15% to $1.6 billion, or 40 cents a share. Adjusted earnings of 41 cents a share topped analysts' forecasts of 38 cents.

Revenue rose 10% to $35.8 billion.

Ford's operations in North America earned $2.4 billion in North America. The company posted a loss in Europe of $462 million.


6. -- Boeing ( BA) posted first-quarter core earnings of $1.73 a share on revenue of $18.9 billion. Analysts were expecting profit of $1.48 a share ion revenue of $18.84 billion.


7. -- Procter & Gamble ( PG) said fiscal third-quarter profit rose 6%.

P&G, the world's largest consumer products company, said net income rose to $2.57 billion, or 88 cents a share, from $2.41 billion, or 82 cents a share, a year earlier. Adjusted earnings in the quarter were 99 cents a share, topping forecasts of 96 cents.

Revenue for P&G in the quarter rose 2% to $20.6 billion.


8. -- AT&T ( T) posted first-quarter revenue that missed Wall Street estimates.

The telecom giant reported sales of $31.4 billion, down 1.5% from the prior year's quarter. Analysts were looking for revenue of $31.75 billion.


9. -- Yum Brands ( YUM), the owner of KFC, Pizza Hut and Taco Bell, posted a steep decline in quarterly net income as same-store sales in China fell 20% on a controversy over its chicken supply.


10. -- Sprint Nextel ( S) posted a first-quarter loss of $643 million, or 21 cents a share, narrower than the year-earlier loss of $863 million, or 29 cents a share.

Wall Street expected a loss of 33 cents a share.

Sprint said Wednesday that revenue in the quarter rose to $8.79 billion from $8.73 billion.


-- Written by Joseph Woelfel

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

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