Morning Briefing: 10 Things You Should Know
NEW YORK (TheStreet) -- Here are 10 things you should know for Thursday, July 18:
1. -- U.S. stock futures were pointing to a flat open for Wall Street on Thursday ahead of another round of big corporate earnings and the second day of testimony from Federal Reserve Chairman Ben Bernanke before Congress.
European stocks were mixed in choppy trading. Shares in Japan advanced while Chinese equities declined in Thursday's session.
2. -- The economic calendar in the U.S. Thursday includes weekly initial jobless claims at 8:30 a.m. EDT, the Philiadelphia Fed index for July at 10 a.m. and leading indicators for June at 10 a.m.
3. -- U.S. stocks on Wednesday rose as Federal Reserve Chairman Ben Bernanke reiterated an accommodative tone on monetary policy, easing concern the central bank is seeking to curb the bond-buying stimulus program that has helped boost equity markets for more than 18 months.
The S&P 500 rose 0.3% to 1,680.91, extending the index's 2013 advance to 18%. The Dow Jones Industrial Average gained 0.1% to 15,470.52 while the Nasdaq added 0.3% to 3,610.
4. -- Dell
Michael Dell and his advisers were weighing how to respond to the latest developments. People involved in the transaction said they were expecting to delay the scheduled shareholder vote, the newspaper said.
The latest opposition would bring the count of known planned negative votes to close to 30% of Dell shareholders, according to the Journal.
5. -- Verizon Communications
Verizon, parent of No. 1 wireless carrier Verizon Wireless, earned 64 cents a share in the second quarter of 2012 on revenue of $28.55 billion.
6. -- Google
Investors will be monitoring cost-per-clicks on Google, as the search giant continues to generate most of its revenue through advertising. .
7. -- Intel
Intel reported on Wednesday earnings of 39 cents a share on revenue of $12.81 billion; analysts were calling for earnings of 39 cents to 40 cents a share on revenue of $12.9 billion.
For the third quarter, Intel said it expects revenue to be $13.5 billion, plus or minus $500 million. Gross margins would be about 61%, plus or minus a couple of percentage points.
For the full year, Intel revised revenue guidance lower, saying it now expects it to be "approximately flat year-on-year, down from prior expectations of low single digit percentage increase."