NEW YORK (TheStreet) -- Here are 10 things you should know for Friday, Sept. 26:
1. -- U.S. stock futures were rebounding Friday, a day after Wall Street's worst day since July and ahead of report on U.S economic growth.
European stocks traded mixed. Asian shares ended Friday's session mostly lower.
2. -- The economic calendar in the U.S. on Friday includes the third estimate of second-quarter GDP at 8:30 a.m. EDT, and the final University of Michigan Sentiment Index for September at 9:55 a.m.
3. -- U.S. stocks on Thursday nosedived as investors reacted to news of bombings in the Middle East and heightened terrorist threat levels on U.S. and French soil. That negativity only exacerbated an end-of-quarter selloff already in progress.
The Dow Jones Industrial Average
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4. -- Apple (AAPL) released a new update late Thursday that the tech giant said would repair the problems caused by software it released Wednesday morning. It also repeated an earlier apology to owners of its newest iPhones who were affected by the buggy release.
Apple shares fell almost 4% on Thursday, a day after the company was forced to withdraw an update to its new iOS 8 mobile software because of glitches that primarily affected customers who had purchased its new iPhone 6 and 6 Plus models.
The company also defended its manufacturing standards following reports that the extra-large shell on the iPhone 6 Plus model was vulnerable to bending. Apple said bending "is extremely rare" with normal use of an iPhone.
5. -- BlackBerry (BBRY) , the struggling smartphone maker, is expected by analysts on Friday to report a loss of 16 cents a share in its fiscal second quarter on sales of $949.6 million.
6. -- Nike (NKE) , the global footwear and athletic apparel company, reported fiscal first-quarter earnings of $1.09 a share, up from 86 cents a share a year earlier and above analysts' estimates of 88 cents.
Revenue rose to $7.98 billion from $6.97 billion a year earlier. Wall Street expected revenue of $7.83 billion.
Nike-brand revenue rose 15% and posted growth in all regions and categories except action sports and golf.
Gross margins improved by 170 basis points to 46.6% helped by a change in product mix.
Nike said orders scheduled for delivery in the current quarter are up 11% from a year earlier.
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7. -- Chrysler announced Thursday it was recalling an estimated 349,000 vehicles over ignition switch problems, adding to its growing collection of cars, SUVs and minivans that are afflicted with similar problems.
According to the automaker, the ignition key on five different models of its older 2008 vehicles could potentially be rotated to the start position and work its way to the off position. That action could result in a loss of engine power, power steering, reduced braking power or deployment of front airbags.
With the latest recall, Chrysler has called back more than 2 million vehicles for defective switches.
8. -- Chipmaker Intel (INTC) said it would buy about 20% of China's Tsinghua Unigroup, a state-owned firm that owns China's second- and third-largest chip designers, Spreadtrum Communications and RDA Microelectronics, The Wall Street Journal reported. The purchase follows Intel's announcement in May of a partnership with another up-and-coming Chinese chipmaker Fuzhou Rockchip Electronics.
9. -- Micron Technology's (MU) fiscal fourth-quarter earnings and revenue topped analysts' forecasts.
The chipmaker reported earnings of 82 cents a share, topping estimates by a penny. Revenue rose 48.9% from a year earlier to $4.23 billion.
"Continued favorable market conditions and steady execution led to increases in sales volumes and another quarter of strong operating margins and earnings per share," CEO Mark Durcan said in a statement.
10. -- Fyffes (FYFFF) , the Irish banana producer, agreed to raise Chiquita's (CQB) ownership of a proposed merged company to 59.6% from 50.7% in an effort to hold off a rival bid for Chiquita from Brazilian juice maker Grupo Cutrale and Safra Group.
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-- Written by Joseph Woelfel
To contact the writer of this article, click here:Joseph Woelfel