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July 18 Premarket Briefing: 10 Things You Should Know


Here are 10 things you should know for Friday, July 18:

1. -- U.S. stock futures were mixed Friday as investors were spooked by the Malaysia Airlines jet crash in Ukraine that killed 298 passengers.

European stocks  followed New York and Asia lower on Friday, as investors took  stock of increased geopolitical tensions in Ukraine and the Middle East.

2. -- The  economic calendar  in the U.S. on Friday includes the University of Michigan Sentiment Index for July at 9:55 a.m. EDT, and leading indicators for June at 10 a.m.

3. -- U.S. stocks  on Thursday declined following news of a downed  Malaysia Airlines  jet in eastern Ukraine.

The Dow Jones Industrial Average  dropped 0.94% to 16,976.81,  gapping from its record close  of 17,1382.2 a day earlier. The  S&P 500  slid 1.2% to 1,958.12, while the  Nasdaq fell 1.4% to 4,363.45.

TheStreet's Joya Dass has Friday's Global Markets Report:

WATCH: More market update videos on TheStreet TV

4. -- AbbVie , the U.S. drugmaker, reached a deal to buy Irish pharmaceutical firm Shire  for almost $55 billion.

The acquisition will allow AbbVie to base the combined company in the U.K to benefit from the lower corporate tax rate in the U.K.

AbbVie will pay 52.48 pounds a share for Shire in the cash-and-stock deal.

Earlier this week, Shire said it was willing to recommend to its shareholders the takeover bid from AbbVie, following the fifth offer AbbVie made to Shire.

5. -- Google's second-quarter adjusted earnings of $6.08 a share missed analysts' forecasts but revenue rose 21.7% from a year earlier to $15.96 billion. Analysts expected revenue of $15.61 billion.

The report released Thursday revealed that Google's advertising prices are still dropping to extend a nearly three-year slump.

The search giant also announced that Chief Business Officer Nikesh Arora is leaving the company after a decade to become a top executive at SoftBank. He will be replaced on an interim basis by Omid Kordestani, Google's original advertising chief.

6. -- General Electric  reported on Friday second-quarter earnings of 39 cents a share on revenue of $36.2 billion.

Analysts expected earnings of 39 cents a share on revenue of $36.3 billion.

 -- IBM said second-quarter profit rose 28% and topped analysts' expectations.

Profit increased to $4.14 billion, or $4.12 a share, from $3.23 billion, or $2.91 a share, in the year-earlier period.

Adjusted earnings were $4.32 a share. Analysts  had expected earnings of $4.29 a share.

Revenue fell 2% to $24.36 billion but topped Wall Street forecasts. 

8. -- Hewlett-Packard CEO Meg Whitman will assume the title of chairman after the departure of interim chairman, Ralph Whitworth, who resigned to deal with health issues.

HP has split the roles of chairman and CEO since Mark Hurd resigned as CEO in 2010. The company has faced shareholder displeasure over a series of missteps and slumping sales. Whitworth, an activist shareholder, was named to the company's board to placate investors.