April 23 Premarket Briefing: 10 Things You Should Know
Updated from 6:35 a.m. EDT
Here are 10 things you should know for Wednesday, April 23:
1.-- U.S. stock futures were pointing to a mixed start for Wall Street on Wednesday following weak manufacturing data from China.
European stocks were mixed. Asian shares ended the session mostly lower but Japan's Nikkei 225 index bucked the trend and rose 1.1%.
A preliminary survey of Chinese manufacturers by HSBC showed slight improvements in prices and demand, but contractions in new export orders and employment in April.
2.-- The economic calendar in the U.S. on Wednesday includes new-home sales for March at 10 a.m. EDT.
3.-- U.S. stocks on Tuesday climbed amid pharmaceutical deals headlines and better-than-expected existing-home sales.
The Dow Jones Industrial Average closed up 0.4% to 16,514.37, the S&P 500 added 0.51% to 1,879.55 and the Nasdaq rose 0.97% to finish at 4,161.46.
4. -- Apple
"With the much anticipated iPhone 6 due for release later this year, we believe many potential iPhone buyers will pause before the major upgrade," said Brian Marshall, an analyst at ISI Group.
Apple shares closed Tuesday at $531.70; the stock is down a little more than 5% in 2014.
The stock was trading at $531.28 in premarket trading on Wednesday.
5. -- Social media giant Facebook
Credit Suisse analyst Stephen Ju on Tuesday upgraded Facebook to "outperform" from "neutral," raised his price target to $87 from $65, and said he believes the company can earn vastly more from its 1.2 billion users with a combination of existing and future products.
Shares of Facebook rose 0.6% in premarket trading to $63.39.
6. -- AT&T
AT&T posted first-quarter net income of $3.7 billion, or 70 cents a share, compared with $3.7 billion, or 67 cents, a year earlier. Adjusting for one-time items, including costs related to its March acquisition of Leap Wireless , earnings were 71 cents a share; analysts expected 70 cents.
Revenue rose 4% in the first quarter to $32.5 billion, higher than analysts' estimates.
The stock fell 2.1% in premarket trading on Wednesday to $35.52.
7. -- The National Mediation Board said Tuesday that pilots at JetBlue
The pilots will join the Air Line Pilots Association. Of the 96% of pilots eligible to vote, the association said 71% voted to unionize. JetBlue has more than 2,500 pilots.