Here are 10 things you should know for Wednesday, Feb. 5:
1.-- U.S. stock futures were trimming losses on Wednesday following a report that found 175,000 private sector jobs were added in January.
Japan's Nikkei 225 index rose 1.2% to close at 14,180.38 on Wednesday. Hong Kong's Hang Seng fell 0.6%.
2.-- The ADP Employment Change index for January posted Wednesday found the U.S. added 175,000 private jobs to payrolls last month; economists were calling for 189,000 jobs. Also on the economic calendar for Wednesday is the ISM Services index for January at 10 a.m. EST.
3.-- U.S. stocks on Tuesday finished higher, reversing much of the prior day's deep slump.The S&P 500 rose 0.76% to close at 1,755.20, while the Dow Jones Industrial Average closed 0.47% higher at 15,445.24. The Nasdaq added 0.86% to 4,031.52.
4.-- Morgan Stanley (MS) will pay $1.25 billion to settle mortgage-backed securities litigation with Fannie Mae (FNMA) and Freddie Mac (FMCC), Morgan Stanley disclosed in a filing after the market closed on Tuesday.
In connection with the agreement, which still must get final approvals, Morgan Stanley set aside an additional $150 million to its legal reserves. The reserve increase will reduce fourth quarter and full-year 2013 earnings by an additional $97 million, or 5 cents a share vs. the figures reported last month.
Morgan Stanley shares were down 0.5% in premarket trading to $28.88.
5.-- Sony (SNE) is in talks to sell its unprofitable Vaio personal computer business to a Japanese investment fund, The Wall Street Journal reported, citing a person with knowledge of the deal.
Both Sony and the fund -- a joint venture between Bain & Co. and Mizuho Securities Co. called Japan Industrial Partners Inc. -- declined to comment for the Journal.
Sony's bankers last year proposed to sell the Vaio business to China's Lenovo, but the idea was rejected by the computer giant, people briefed on the exchange told the newspaper.
The potential sale reportedly is worth around 40 billion yen to 50 billion yen ($490 million).
The stock fell 1.2% in premarket trading on Wednesday.
6.-- Twitter (TWTR) is expected by Wall Street after Wednesday's closing bell to report a fourth-quarter loss of 2 cents a share on revenue of $217.8 million.
The earnings announcement from the microblogging site is the first since Twitter's successful initial public offering on Nov. 7.
The stock closed Tuesday at $66.26, up 1.55%. The IPO price was $26.
Twitter shares rose 0.3% to $66.49 in premarket trading on Wednesday.
7.-- Microsoft's (MSFT) Satya Nadella, the software giant's new CEO, had his base pay set at $1.2 million, more than 70% higher than Steve Ballmer, his predecessor.
Microsoft named Nadella as CEO on Tuesday.
Securities filings show Nadella, who will take part in the company's executive incentive program, will have a target annual pay package of $18 million, as well as a one-time stock award with a value aimed at $21.8 million, The Associated Press reported.
Microsoft shares rose 0.6% in early trading.
8.-- A small group of investors is pressuring Yahoo! (YHOO) to revise its approach to hiring and compensation following CEO Marissa Mayer's expensive firing of her No. 2 executive, Henrique de Castro, the Journal reported.
Yahoo! shares fell 15 cents in premarket trading.
9.-- Media and entertainment giant Time Warner (TWX) said Wednesday that fourth-quarter net income declined 12%, as investments in programming and other costs offset revenue growth.
The stock was unchanged in premarket trading.
10.-- CVS (CVS) said Wednesday it will phase out sales of cigarettes, cigars and chewing tobacco by Oct. 1, a move that will cost about $2 billion in annual revenue but won't affect its 2014 earnings forecast.
Shares declined in premarket trading by 0.8% to $65.56.
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