November 11 Premarket Briefing: 10 Things You Should Know

NEW YORK (TheStreet) -- Here are 10 things you should know for Tuesday, Nov. 11:

1. -- U.S. stock futures were higher as global stocks got another boost from record closes on Wall Street.

European stocks rose on the back of strong earnings reports. Asian stocks ended mixed but the Nikkei in Tokyo rose 2.1% and closed at a seven-year high on renewed weakness in the yen.

2. -- The economic calendar in the U.S. on Tuesday is empty. Stock markets are open but bond markets will be closed for Veterans Day.

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-- U.S. stocks on Monday rose and the Dow Jones Industrial Average and S&P 500 clocked another day of record closing highs, the latest win in a three-week rally despite the absence of any market-moving news. This marks the fourth consecutive trading session of record highs for the Dow, which gained 0.23% on Monday.

The S&P 500 jumped 0.31% and the Nasdaq rose 0.41%.

4. -- Alibaba (BABA)  said as of early Tuesday sales on Singles Day, which is China's and perhaps the world's busiest online shopping day, were almost $7 billion.

The Chinese e-commerce giant said sales at 17 hours into the event were $6.96 billion. Total sales for last year's Singles Day were $5.75 billion.

Sales are expected in the range of 50 billion yuan ($8.17 billion), up 40% from last year, Ben Cavender, principal at China Market Research Group, told CNBC.

5. -- Google (GOOG) signed a 60-year lease for part of a historic Navy air base, where it plans to renovate three hangars and use them for aviation, space exploration and robotics projects.

The tech giant will pay $1.16 billion in rent over the life of the lease. The property also includes a working air field, golf course and other buildings. The 1,000-acre site is part of the former Moffett Field Naval Air Station on the San Francisco Peninsula.

Google plans to invest more than $200 million to refurbish the hangars and add other improvements, including a museum or educational facility that will showcase the history of Moffett and Silicon Valley, according to a statement from NASA. The space agency said Google subsidiary Planetary Ventures LLC will use the hangars for "research, development, assembly and testing in the areas of space exploration, aviation, rover/robotics and other emerging technologies."

6. -- Juniper Networks (JNPR) said Monday that CEO Shaygan Kheradpir resigned and stepped down from the board of the computer network equipment maker following "a review by the board of directors of his leadership and his conduct in connection with a particular negotiation with a customer."

Juniper said in a press release that it and Kheradpir have "different perspectives" on the issue and that the review that led to his departure won't bring about a restatement of its financial results.

Rami Rahim was named as CEO, effective immediately. Rahim was in charge of development and innovation. 

7. -- Caesars Entertainment (CZR) posted an adjusted third-quarter loss of $3.14 a share, far wider than analysts' forecasts, as revenue growth at its casinos was sluggish.

Casino revenue rose 0.3% in the quarter, while total revenue rose 6% to $2.21 billion, which was in line with analysts' expectations.

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8. -- Analysts expect homebuilder D.R. Horton (DHI) to report fiscal fourth-quarter earnings on Tuesday of 48 cents a share on sales of $2.38 billion.

9. -- Rackspace's (RAX)  third-quarter earnings topped analysts' forecasts.

The cloud company earned 18 cents a share in the third quarter, beating the 16 cents analysts expected. Revenue rose 18.4% to $459.8 million.

Rackspace said it expects to report fourth-quarter revenue of $469 million to $477 million. Analysts expect $477 million.

10. -- Ford (F)  was scheduled to start production of its aluminum-sided F-150 on Tuesday at its truck plant in Dearborn, Mich. The truck will arrive at U.S. dealerships next month.

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-- Written by Joseph Woelfel

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

Follow @JoeWTheStreet

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