NEW YORK (TheStreet) -- Here are 10 things you should know for Friday, Dec. 12:
1. -- U.S. stock futures were pointing lower on Friday after oil prices continued to fall and demand forecasts for 2015 were slashed.
European stocks fell and Asian shares ended Friday's mixed following a decline in China's factory output growth during November.
2. -- The economic calendar in the U.S. on Friday includes the Producer Price Index for November at 8:30 a.m. EST, and the University of Michigan Sentiment Index for December at 9:55 a.m.
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3. -- U.S. stocks on Thursday finished higher but gains were limited after crude oil prices slipped below the psychological $60-a-barrel level.
The S&P 500 closed 0.45% higher to 2,035.33, the Dow Jones Industrial Average added 0.37% and the Nasdaq popped 0.52%.
4. -- The International Energy Agency on Friday cut its forecast for global oil demand growth in 2015 for the fifth time in the last six months.
The Paris-based group said global oil demand next will be weaker than previously estimated but said production will increase from countries outside of OPEC.
The IEA trimmed its 2015 forecast for global oil demand growth by 230,000 barrels per day to 900,000 barrels a day.
Oil prices extended their slide on Friday following the IEA forecast. West Texas Intermediate crude declined 1.2% to $59.22 a barrel in electronic trading on the New York Mercantile Exchange.
Uber, looking to expand in China, will receive cash and non-cash assets, including Baidu's online resources as owner of China's biggest Internet search engine, the person told Bloomberg. The investment may be worth as much as $600 million, China National Radio reported earlier.
6. -- Adobe Systems (ADBE) reported a fiscal fourth-quarter adjusted profit of 36 cents a share on revenue of $1.07 billion, exceeding analysts' estimates, and said it would pay $800 million to buy stock image and video company Fotolia.
Adobe said Fotolia will be integrated into Adobe Creative Cloud, which makes software products available through a monthly subscription. Adobe said Fotolia runs a marketplace of royalty-free photos, graphics, and video with 34 million images and videos.
7. -- The House narrowly approved a $1.1 trillion government spending bill on Thursday after President Obama and Republicans joined forces to override Democratic complaints that the bill also would ease bank regulations imposed after the economy's near-collapse in 2008.
The 219-206 vote cleared the way for a final showdown in the Senate on the bill.
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8. -- SeaWorld (SEAS) said CEO Jim Atchison will step down as CEO following declines in theme park attendance in three of the past four quarters. Also leading to Atchison's departure was the release last year of "Blackfish," a documentary that suggested SeaWorld's treatment of animals may have led to the death of trainers.
Chairman David D'Alessandro will take over as interim CEO on Jan. 15.
9. -- United Technologies (UTX) issued profit forecasts for 2014 and 2015 that were below Wall Street expectations.
The industrial conglomerate said it expects to earn $6.80 a share in 2014, which is in line with its prior forecast of $6.75 to $6.85 a share. Analysts, however, are expecting profit of $6.87 a share.
Meanwhile, the company's new CEO, Gregory Hayes, said he will consider acquisitions in excess of $20 billion as he reviews portfolio changes that could also include selling off key business units, Bloomberg reported.
10. -- The chief of Tesla (TSLA) in China, Veronica Wu, will leave the company in "some days," according to a company official, The Wall Street Journal reported. No reason was given.
Wu's departure comes shortly after the resignation of the company's China chief of communications, Peggy Yang, the Journal reported.
"Tesla is going very well in China," a spokesman said. "We remain confident in the Chinese market."
Tesla has nine stores and service centers in six major cities in China.
-- Written by Joseph Woelfel
To contact the writer of this article, click here:Joseph Woelfel