May 2 Premarket Briefing: 10 Things You Should Know
Updated from 6:33 a.m. EDT
Here are 10 things you should know for Friday, May 2:
1. -- U.S. stock futures were rising Friday ahead of the U.S. government nonfarm payrolls report for April.
Economists expected the U.S. to have added 215,000 jobs last month, with the unemployment rate falling to 6.6%.
European stocks were flat. Asian shares ended the session mixed. Japan's Nikkei 225 index fell 0.2%.
2. -- The economic calendar in the U.S. on Friday includes the nonfarm payrolls report for April at 8:30 a.m. EDT, and factory orders for March at 10 a.m.
3. -- U.S. stocks on Thursday closed mixed as a raft of positive economic data lifted sentiment after weekly jobless claims rose.
The Dow Jones Industrial Average settled down 0.13% to 16,558.87, while the S&P 500 finished effectively flat at 1,883.68. The Nasdaq gained 0.31% to close at 4,127.45.
4. -- Pfizer
The Viagra maker said it is offering 50 pounds ($84) a share in cash and stock, a 7.3% on its previous bid. The offer values AstraZeneca at $106 billion.
AstraZeneca, which had shot down earlier takeover attempts, dismissed Pfizer's higher bid, saying it was "inadequate."
Pfizer, the U.S. drugmaker, sent a letter to Prime Minister David Cameron, promising to keep the country's corporate and tax residence in England and saying the "golden triangle of Oxford, Cambridge and London would represent a vital component" of the deal.
Pfizer shares rose 0.2% in premarket trading. AstraZeneca fell 0.2% to $80.92.
5. -- Warren Buffett's Berkshire Hathaway
Meanwhile, Berkshire and Buffett, CEO of the conglomerate, will conduct the annual shareholders' meeting in Omaha, Neb., on Saturday.
6. -- Chevron
7. -- Professional social network LinkedIn
In its second quarter ending in June, the company said it expects revenue of between $500 million and $505 million, with adjusted EBITDA of $118 million to $120 million. Analysts expected revenue slightly higher at $505.1 million and EBITDA of $120.34 million.
Excluding one-time expenses, LinkedIn posted first-quarter earnings of 38 cents a share; analysts expected 34 cents.
LinkedIn fell 1.8% to $158.33 in premarket trading on Friday.
8. -- The Food and Drug Administration will ask a panel of advisers to vote on Friday on whether Singulair, Merck's