Morning Briefing: 10 Things You Should Know

NEW YORK ( TheStreet) -- Here are 10 things you should know for Thursday, May 9:

1. -- U.S. stock futures were indicating a flat open Thursday after a flurry of buying activity during the prior session brought investors in from the sidelines attracted by strong corporate earnings and continued accommodative monetary policies.

2. -- The economic calendar in the U.S. Thursday includes weekly initial jobless claims at 8:30 a.m. EDT, and wholesale inventories at 10 a.m.

3. -- U.S. stocks on Wednesday finished higher as investors bought equities rather than be left out of a surging market.

The S&P 500 rose 0.41% to 1,632.69 while the Dow Jones Industrial Average added 0.32% to 15,105.12 after closing above 15,000 for the first time. The Nasdaq gained 0.49% to 3,413.27

4. -- JPMorgan Chase ( JPM) is looking for more directors who can serve on the board's risk committee, amid calls from some investors for corporate-governance changes at the largest U.S. bank, The Wall Street Journal reported, citing people close to the company.

The search for directors is wide ranging and could also include experts in audit or marketing or executives who have chief-executive-level experience, one of the people told the newspaper.

5. -- News Corp. ( NWSA) posted first-quarter earnings that beat analysts' estimates on double-digit increases for subscriber fees at its cable networks, including Fox News Channel.

News Corp. reported on Wednesday adjusted earnings per share of 36 cents for the quarter ended in March, beating analysts' estimates of 35 cents a share. Sales increased 14% to $9.5 billion, also beating estimates of $9.2 billion.

6. -- Groupon ( GRPN), the daily deals Web site, posted first-quarter revenue that exceeded forecasts.

Groupon said revenue rose 8% to $601.4 million in the March-ended quarter from $559.3 million in the year-earlier period.

7. -- Facebook ( FB) is in advanced talks to acquire Waze, the Israeli mobile satellite navigation start-up, for $800 million to $1 billion, according to a report in business daily Calcalist.

Talks began six months ago. Due diligence is underway after a term sheet was signed, Calcalist reported.

8. -- Wall Street expects ( PCLN) on Thursday to post first-quarter earnings of $5.27 a share on sales of $1.28 billion.

9. -- Microsoft's ( MSFT) new chief financial officer is Amy Hood; she previously was finance chief at the company's Office division.

Hood replaces Peter Klein, who announced his departure three weeks ago.

10. -- Wrigley said Wednesday it would temporarily halt sales and marketing of Alert caffeinated gum after discussions with the Food and Drug Administration.

-- Written by Joseph Woelfel

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