Morning Briefing: 10 Things You Should Know

NEW YORK ( TheStreet) -- Here are 10 things you should know for Thursday, May 30:

1. -- U.S. stock futures are pointing to a higher open Thursday ahead of reports on U.S. economic growth and the labor and housing markets.


2. -- The economic calendar in the U.S. Thursday includes weekly initial jobless claims at 8:30 a.m. EDT, the second estimate of first-quarter GDP at 8:30 a.m., and pending home sales at 10 a.m.


3. -- U.S. stocks on Wednesday pulled back on concern the Federal Reserve's decision to scale back its stimulus program may take place sooner than expected, and as the Organization for Economic Cooperation and Development lowered its outlook for global growth.


4. -- Dish Network ( DISH) raised its buyout bid for Clearwire ( CLWR) to $4.40 a share, valuing the wireless network operator at $6.9 billion, and topping a bid from Sprint ( S).

Dish's bid is 29% higher than Sprint's bid of $3.40 a share. Sprint owns a little more than 50% of Clearwire. Sprint raised its bid for Clearwire last week.

Clearwire's board had recommended that shareholders vote in favor of Sprint's bid before Dish's latest offer. Clearwire shareholders are meeting Friday to vote on the deal.


5. -- Berkshire Hathaway's ( BRK.A) energy subsidiary MidAmerican Energy is buying Las Vegas utility NV Energy ( NVE) for $23.75 a share in cash for an enterprise value of about $10 billion.


6. -- Moody's downgraded Alcoa's ( AA) credit rating into junk status on Wednesday, citing lower aluminum prices.


7. -- Costco ( COST), the warehouse retailer, said Thursday it earned $459 million, or $1.04 a share, in its fiscal third quarter, up from year-earlier earnings of $386 million, or 88 cents a share.

Analysts were expecting Costco to post earnings of $1.03 a share.


8. -- GE Capital Chief Michael A. Neal is expected to step down as early as this summer, and parent company General Electric ( GE) is evaluating potential successors, The Wall Street Journal reported, citing people familiar with the matter.


9. -- Motorola, which is owned by Google ( GOOG), said Wednesday that it is opening a Texas manufacturing plant that will create 2,000 jobs and produce its new flagship device, Moto X, the first smartphone ever assembled in the U.S.


10. -- President Obama is expected to nominate former Justice Department official James Comey as the next head of the FBI, according to reports. Comey will replace Robert Mueller as FBI director


-- Written by Joseph Woelfel

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