2. -- The economic calendar in the U.S. Friday includes personal income and spending for July at 8:30 a.m. EDT, Chicago PMI for August at 9:45 a.m. and the final Michigan Sentiment index for August at 9:55 a.m.
3. -- U.S. stocks on Thursday gained modestly on stronger-than-expected U.S. economic growth and a drop in jobless claims. The S&P 500 rose 0.2% to close at 1,638.17 while the Dow Jones Industrial Average added 0.1% to 14,840.95. The Nasdaq jumped 0.8% to 3,620.30.
4. -- President Obama is preparing for unilateral military action in Syria after Britain's Parliament on Thursday refused to go along with Prime Minister David Cameron's plan to intervene in Syria, where the government is alleged to have used chemical weapons against civilians. Obama is prepared to act without the U.K., officials told The Wall Street Journal, noting that unlike U.S. involvement in the 2011 military operation in Libya, the options under consideration in Syria are smaller in scale and don't need a coalition to be effective.
5. -- Microsoft ( MSFT) and American Express ( AXP) are vying to take an equity stake in Foursquare Labs, Bloomberg reported, citing people with knowledge of the discussions. The two companies are competing to invest in Foursquare rather than cooperating on a joint bid, one of the people told Bloomberg. Foursquare also is talking with other companies about a possible investment but the talks may not lead to a deal, another person said. Foursquare is a social networking Website which lets users check in to show they're visiting a place like a restaurant or store.
6. -- General Electric ( GE) is preparing to spin off GE Capital, its retail lending and credit-card business, in an initial public offering that could come early next year, the Journal reported, citing people familiar with the matter. Preliminary work to separate the business through an IPO is under way, the people told the newspaper. GE Capital's portfolio of loans and other assets would rank it as the country's fifth-largest commercial bank, the Journal noted. The unit also issues store credit cards for 55 million consumers.
7. -- Apache ( APA) said Friday it would sell a 33% stake in its Egypt operation to China's Sinopec for $3.1 billion. Apache said the sale is a first step in forming a global partnership to pursue oil and gas projects.
8. -- Carl Icahn raised his stake in Nuance Communications ( NUAN) to 16.9% and said he was considering adding one of his nominees to the board of the maker of speech-recognition software. Icahn's stake was increased from 16.4%.
9. -- Salesforce.com ( CRM), the cloud computing company, posted fiscal second-quarter earnings on Thursday that topped Wall Street expectations as revenue jumped 31%. Salesforce.com also provided guidance for the year above analysts' views. Salesforce.com's adjusted earnings for the quarter were 9 cents a share; analysts were looking for 7 cents a share. Revenue in the period was $957.1 million, up $731.6 million a year earlier. Analysts were expecting revenue of $937.8 million.
10. -- Big Lots ( BIG) is expected by analysts on Friday to post fiscal second-quarter earnings of 24 cents a share on revenue of $1.23 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: firstname.lastname@example.org.