Here are five things you must know for Friday, Feb. 16:

1. -- Stocks Set to Rise for a Sixth Day

U.S. stock futures hinted that Wall Street would rise for a sixth straight session ahead of data on import prices and as traders prepared for a long Presidents Day weekend.

Contracts tied to the Dow Jones Industrial Average rose 12 points, while those tied to the S&P 500 gained 3 points.

Stocks closed higher on Thursday, Feb. 15, for a fifth straight session. The Dow finished up 306 points, or 1.23%, to 25,200. The S&P 500 gained 1.21% and the Nasdaq rose 1.58%.

The economic calendar in the U.S. on Friday includes Import and Export Prices for January at 8:30 a.m. ET, Housing Starts for January at 8:30 a.m., and Consumer Sentiment for February at 10 a.m.

Deere & Co. (DE) reported fiscal first-quarter earnings of $1.31 a share, 11 cents ahead of analysts' estimates. Revenue was $6.91 billion while analysts expected $6.42 billion. The stock rose 0.7% in premarket trading.

Coca-Cola Co. (KO) posted fourth-quarter adjusted earnings of 39 cents a share, topping forecasts by 1 cent. Revenue fell 20% to $7.5 billion but still beat forecasts that called for $7.4 billion. The company said it sees adjusted earnings-per-share growth of 8% to 10% in 2018. 

Coca-Cola shares rose 1.6% in premarket trading.

Kraft Heinz Co. (KHC) posted fourth-quarter adjusted profit of 90 cents a share, down 1 cent from a year earlier.

Earnings are also expected Friday from Campbell Soup Co. (CPB) , Newell Brands Inc.. (NWL) , J.M. Smucker Co. (SJM) and VF Corp. (VFC) .

Stock markets in the U.S. will be closed Monday, Feb. 19, for the Presidents Day holiday.

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2. -- Walmart in Talks to Buy Stake in India's Flipkart

Walmart Inc. (WMT) is in talks to purchase a stake of more than 40% in Flipkart, the Indian e-commerce company, Reuters reported, citing two sources familiar with the matter.

In what would be one of its biggest overseas deals, Walmart, the world's largest retailer, is looking at buying new and existing shares in Flipkart and due diligence is likely to begin as early as next week, the sources said. 

The deal's terms weren't immediately available, but Flipkart would be valued at more than the $12 billion figure given when Japan's SoftBank Group Corp.'s Vision Fund took roughly a fifth of the company last year for $2.5 billion, the sources told Reuters.

Walmart's move comes as Amazon.com Inc. (AMZN)  has committed to investing $5 billion in India as it expands aggressively, including into online grocery deliveries, Reuters noted.

3. -- Chicago Stock Exchange Sale to China Group Is Blocked 

A sale of the Chicago Stock Exchange to a group led by China-based investors was nixed by the Securities and Exchange Commission.
 
The SEC said that during its review it was unable to obtain all the information it needed from the Chinese group, including details about how some of the entities involved in the deal were funded. The regulator said this "raises significant doubts" that it would be able to monitor the exchange if the deal went through.
 
The deal was first announced in February 2016.
 
SEC staff initially approved the sale of the privately owned exchange, but within minutes of the announcement SEC commissioners, led by Chairman Jay Clayton, a Donald Trump appointee, put the decision on hold for further review, Reuters noted. Trump brought the Chicago Stock Exchange deal up twice during the election campaign as an example of how jobs and wealth were leaving the U.S.  

4. -- Biggest Avis Investor Seeks Board Changes

New York investment fund SRS Investment Management LLC, the largest investor in Avis Budget Group Inc. (CAR)  , has launched a fight to shake up the car-rental car company's board, The Wall Street Journal reported.

SRS will seek five total seats on the board, including two members it appointed to the 12-person board in a 2016 agreement, the Journal reported, citing people familiar with the matter.

SRS controls 14.7% of the voting shares of Avis and another 16% in derivatives, according to the Journal.

Avis Budget Group last month implemented a "poison pill" to block SRS from exceeding 15% of voting stock after the company and SRS failed to reach a new agreement to avoid a proxy fight. 

5. -- Arista Tumbles on Soft Guidance

Shares of networking company Arista Networks Inc. (ANET) were tumbling 11% in premarket trading on Friday after the rival to Cisco Systems Inc. (CSCO) provided soft first-quarter guidance.

Arista said it expects first-quarter sales of $450 million to $468 million; analysts estimated sales of $457 million.

For the fourth quarter, Arista posted adjusted profit of $1.71 a share, above estimates of $1.42.

This article has been updated to include earnings from Coca-Cola and Kraft Heinz.

 

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