Morning Briefing: 10 Things You Should Know

NEW YORK ( TheStreet) -- Here are 10 things you should know for Friday, Sept. 20:

1. -- U.S. stock futures were pointing slightly down Friday while European and Asian stocks traded mostly lower following the Federal Reserve's surprise decision earlier this week not to scale back on its stimulus for the U.S. economy.

Japan's Nikkei 225 index fell 0.2% to close at 14,742.42 on Friday.


2. -- The economic calendar in the U.S. Friday is bare.


3. -- U.S. stocks on Thursday finished mixed as investors processed a barrage of economic data a day after the S&P 500 reached new highs driven by the Federal Reserve's pledge to maintain its $85 billion a month bond-buying program pending stronger evidence of a healthy U.S. economy.

The S&P 500 fell 0.2% to 1,722.34 while the Dow Jones Industrial Average declined 0.3% to 15,636.55. The Nasdaq rose 0.2% to 3,789.38.


4. -- Apple's ( AAPL) new iPhone 5s and iPhone 5c went on sale midnight Friday online and will be available in Apple stores at 8 a.m. local time. Both phones will be available in the U.S., Australia, Canada, China, France, Germany, Hong Kong, Japan, Puerto Rico, Singapore and the U.K.

Wireless carriers and other retailers plan to sell the devices as well.

It's the first time Apple is releasing two different iPhone models at once. The 5s is $199 with a two-year contract, includes a fingerprint sensor, a better camera and a faster processor. The 5s costs $100 more than the 5c, which has a few more extras than last year's iPhone 5.


5. -- Warren Buffett, when asked in a CNBC interview who should be the next Fed chairman, said he would have asked Ben Bernanke to stay in the job.

"When you have a .400 hitter in the lineup you don't take him out," Buffett said in the interview.

"He may want to leave, but I think he's done -- since the panic of five years ago -- I think he's done a terrific job. And I think he ought to get a little bit more of a chance to play out the hand," Buffett said.


6. -- Empire State Realty Trust, the real estate investment trust with the Empire State Building as its centerpiece, plans to launch an initial public offering of 71.5 million shares at $13 to $15 apiece, according to a regulatory filing on Thursday, Reuters reported.

The shares are expected to price on Oct. 1, a source familiar with the matter told Reuters.


7. -- Vornado Realty Trust ( VNO) agreed to sell its remaining 13.4 million J.C. Penney ( JCP) shares.

At a recent conference, Vornado's Chief Administrative Officer Joseph Macnow said the REIT expected to exit its investment in J.C. Penney "in the not-too-distant future," according to a regulatory filing last week.

Shares of J.C. Penney fell 2.3% on Thursday to $13.14.


8. -- Darden Restaurants ( DRI) is expected by Wall Street on Friday to post fiscal first-quarter earnings of 70 cents a share on revenue of $2.2 billion.


9. -- Tibco Software ( TIBX), a maker of software for companies to use on site or through cloud computing, posted fiscal third-quarter earnings that topped estimates on an adjusted basis.

Excluding certain one-time items, Tibco posted earnings of 28 cents a share; analysts were looking for 22 cents a share.

Revenue rose 6% in the quarter to $270.9 million.


10. -- Texas Instruments ( TXN) said Thursday it was raising its quarterly dividend by 7% to 30 cents a share from 28 cents.

It's the second time this year the chipmaker increased its dividend.


-- Written by Joseph Woelfel

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

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