Morning Briefing: 10 Things You Should Know

NEW YORK ( TheStreet) -- Here are 10 things you should know for Thursday, July 18:

1. -- U.S. stock futures were pointing to a flat open for Wall Street on Thursday ahead of another round of big corporate earnings and the second day of testimony from Federal Reserve Chairman Ben Bernanke before Congress.

European stocks were mixed in choppy trading. Shares in Japan advanced while Chinese equities declined in Thursday's session.


2. -- The economic calendar in the U.S. Thursday includes weekly initial jobless claims at 8:30 a.m. EDT, the Philiadelphia Fed index for July at 10 a.m. and leading indicators for June at 10 a.m.


3. -- U.S. stocks on Wednesday rose as Federal Reserve Chairman Ben Bernanke reiterated an accommodative tone on monetary policy, easing concern the central bank is seeking to curb the bond-buying stimulus program that has helped boost equity markets for more than 18 months.

The S&P 500 rose 0.3% to 1,680.91, extending the index's 2013 advance to 18%. The Dow Jones Industrial Average gained 0.1% to 15,470.52 while the Nasdaq added 0.3% to 3,610.


4. -- Dell ( DELL) shareholders vote Thursday on founder and CEO Michael Dell's plan to take the PC company private in a $24.4 billion deal but the deal has received new opposition from the likes of big investors Vanguard Group, State Street and BlackRock, The Wall Street Journal reported.

Michael Dell and his advisers were weighing how to respond to the latest developments. People involved in the transaction said they were expecting to delay the scheduled shareholder vote, the newspaper said.

The latest opposition would bring the count of known planned negative votes to close to 30% of Dell shareholders, according to the Journal.


5. -- Verizon Communications ( VZ) is forecast by Wall Street to report on Thursday second-quarter earnings of 72 cents a share on revenue of $29.83 billion.

Verizon, parent of No. 1 wireless carrier Verizon Wireless, earned 64 cents a share in the second quarter of 2012 on revenue of $28.55 billion.


6. -- Google ( GOOG) is expected to post earnings of $10.78 a share in the second quarter on revenue of $14.42 billion.

Investors will be monitoring cost-per-clicks on Google, as the search giant continues to generate most of its revenue through advertising..


7. -- Intel ( INTC) missed second-quarter earnings estimates, and the world's largest chipmaker revised guidance lower.

Intel reported on Wednesday earnings of 39 cents a share on revenue of $12.81 billion; analysts were calling for earnings of 39 cents to 40 cents a share on revenue of $12.9 billion.

For the third quarter, Intel said it expects revenue to be $13.5 billion, plus or minus $500 million. Gross margins would be about 61%, plus or minus a couple of percentage points.

For the full year, Intel revised revenue guidance lower, saying it now expects it to be "approximately flat year-on-year, down from prior expectations of low single digit percentage increase."


8. -- IBM ( IBM) beat Wall Street's second-quarter earnings estimates on Wednesday and raised its guidance despite missing analysts' top-line forecasts.

Excluding the impact of a $1 billion work force rebalancing charge incurred in the quarter, the tech giant earned $3.91 a share, a year-over-year increase of 8%. IBM, however, brought in revenue of $24.9 billion, down 3% over the same period, or 1% adjusted for currency.

Analysts were looking for earnings of $3.77 a share on sales of $25.37 billion.

IBM CEO Ginni Rometty said the company was confident of achieving its increased 2013 operating EPS expectation of at least $16.90, excluding the $1 billion work force rebalancing charge. Previously, IBM had forecast operating EPS of at least $16.70.


9. -- Morgan Stanley ( MS) is forecast to report on Thursday second-quarter earnings of 43 cents a share.


10. -- Microsoft ( MSFT) is expected by Wall Street to post fiscal fourth-quarter earnings on Thursday of 75 cents a share on revenue of $20.73 billion.

In the same quarter last year, Microsoft posted adjusted earnings 73 cents a share on revenue of $18.06 billion.

-- Written by Joseph Woelfel

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

>To submit a news tip, send an email to: tips@thestreet.com.

Copyright 2013 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

More from Stocks

Market Can't Handle the Wild Ride: Cramer's 'Mad Money' Recap (Thursday 5/24/18)

Market Can't Handle the Wild Ride: Cramer's 'Mad Money' Recap (Thursday 5/24/18)

Replay: Jim Cramer on North Korea, Oil Prices, Apple and Carnival Corporation

Replay: Jim Cramer on North Korea, Oil Prices, Apple and Carnival Corporation

Canopy Growth: First Cannabis Firm on the NYSE Fails to Generate Buzz

Canopy Growth: First Cannabis Firm on the NYSE Fails to Generate Buzz

Video: This Startup Connects Buyers and Sellers of Legal Marijuana

Video: This Startup Connects Buyers and Sellers of Legal Marijuana

Dow, S&P 500 and Nasdaq Tumble After Trump Calls Off North Korea Summit

Dow, S&P 500 and Nasdaq Tumble After Trump Calls Off North Korea Summit