November 26 Premarket Briefing: 10 Things You Should Know

NEW YORK (TheStreet) -- Here are 10 things you should know for Wednesday, Nov. 26:

1. -- U.S. stock futures were rising Wednesday ahead of a batch of economic data and as OPEC leaders gather in Vienna for a meeting amid talks of possible production cuts.

European stocks rose while Asian shares finished Wednesday's trading session mostly higher.

2. -- The economic calendar in the U.S. on Wednesday includes weekly initial jobless claims at 8:30 a.m. EST, durable-goods orders for October at 8:30 a.m., personal income and personal spending for October at 8:30 a.m., Chicago PMI for November at 9:45 a.m., the University of Michigan Sentiment Index (Final) for November at 9:55 a.m., new home sales for October at 10 a.m., and pending home sales for October at 10 a.m.

3. -- U.S. stocks on Tuesday finished mixed following a surprise drop in consumer confidence.

The S&P 500 fell 0.12% to 2,067.03, the Dow Jones Industrial Average declined 0.02% while the Nasdaq rose 0.07%.

4. -- Uber Technologies, the mobile car-booking company, is close to raising a round of financing that would value it at $35 billion to $40 billion, Bloomberg reported, citing people with knowledge of the situation.

T. Rowe Price  (TROW) is in discussions to be a new investor, said the people. Existing investor Fidelity Investments is also set to participate in the funding, they said. Uber is raising at least $1 billion, the people told Bloomberg.

A financing round in June valued Uber at $17 billion.

5. -- Hewlett-Packard (HPQ)  said fiscal fourth-quarter sales fell 2%, marking the 12th revenue decline in the last 13 quarters.

Adjusted earnings in the quarter were $1.06 a share, in line with analysts estimates. Revenue was $28.41 billion; analysts were looking for $28.76 billion.

HP unveiled plans in October to split the Silicon Valley company in two. Once company would consist of the sluggish printer-and-PC division; the other would sell commercial tech hardware, software and services.

6. -- Farm equipment maker Deere (DE) is expected on Wednesday to report fiscal fourth-quarter earnings of $1.57 a share on revenue of $7.75 billion.

7. -- Yahoo! (YHOO) and Microsoft (MSFT) have begun pitching Apple (AAPL) on replacing Google (GOOG) with their search engines, according to The Information.

Apple's contract with Google, which uses Google's search engine as the default in Apple's Safari browser, expires in 2015.

Executives from Yahoo! and Microsoft have approached Eddy Cue, Apple's senior vice president of Internet software and services, about a deal that could see one of them repalce Google to become the default search engine for Apple devices.

Twitter's acquisition plans became the subject of hot speculation on Monday after CFO Anthony Noto accidentally tweeted a message about making plans for a deal.

9. -- The Justice Department is investigating allegations that an employee of HSBC Holdings (HSBC)  leaked confidential client information to a major hedge fund, The Wall Street Journal reported, citing people familiar with the matter,

U.S. prosecutors are interviewing HSBC traders about the alleged event, which is believed to have taken place in March 2010, as part of their broader criminal investigation into improprieties in the currencies markets, the people told the Journal.

The alleged event, which HSBC self-reported to U.S. and British authorities and is being examined as part of a U.S. criminal investigation, happened when HSBC was advising British insurer Prudential PLC on a huge acquisition and was working on a related multibillion-dollar currency transaction, the newspaper said.

10. -- Digital video recording company TiVo (TIVO) posted earnings of 6 cents a share in the third quarter, missing analysts' estimates by 1 cent.

Revenue in the quarter was $118.4 million; analysts were expecting $115.2 million.

 

-- Written by Joseph Woelfel

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

Follow @JoeWTheStreet

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