Wake Up Wall Street: Saudi Aramco Closes In on Its IPO

This is what you need to know before the bell.
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This is what you need to know before the bell:

1. Saudi Aramco has formally appointed JPMorgan Chase (JPM) - Get Report , Morgan Stanley (MS) - Get Report  and HSBC (HSBC) - Get Report  as international financial advisers for its initial public offering, sources familiar with the matter told Reuters.

2. Shares of Lululemon Athletica (LULU) - Get Report  were tumbling more than 18% in premarket trading on Thursday after the apparel retailer missed fourth-quarter earnings expectations and issued a weak outlook for the first quarter.

3. Lloyds of London, the world's oldest insurance market, said Thursday that it will open a new office in Brussels as a result of Britain's decision to leave the European Union.

 4. Billionaire hedge fund manager Bill Ackman conceded that his big wager on Valeant Pharmaceuticals (VRX)  was "a huge mistake" that has cost his hedge fund firm, Pershing Square Capital Management, "a tremendous amount."

READ MORE: 5 Things You Must Know Before The Market Opens On Thursday