Oct. 25 Premarket Briefing: 10 Things You Should Know
NEW YORK ( TheStreet) -- Here are 10 things you should know for Friday, Oct. 25:
1.-- U.S. stock futures were suggesting Wall Street would open lower on Friday after Asian stocks tumbled on doubts over the recovery of the economies of Japan and China.
European stocks were moving lower. Japan's Nikkei 225 index fell 2.8% to close at 14,088.19, and China's Shanghai Composite Index declined 1.5%.
2.-- The economic calendar in the U.S. Friday includes durable-goods orders for September at 8:30 a.m. EDT, the final University of Michigan Sentiment Index for October at 9:55 a.m. and wholesale inventories for August at 10 a.m.
3.--U.S. stocks on Thursday rose amid strong earnings from 3M
The world's largest online retailer posted a quarterly loss of 9 cents a share on revenue of $17.09 billion, delivering 24% year-over-year growth. Analysts sexpected Amazon to lose 9 cents a share on revenue of $16.76 billion.
The company noted its operating loss was $25 million in the third quarter, compared to an operating loss of $28 million in the year-earlier period. Foreign exchange impacts caused $7 million of the loss.
For the fourth quarter, the company said it expects revenue of between $23.5 billion and $26.5 billion. Wall Street estimates sales of $25.9 billion.
The company noted it expects operating income to be between a loss of $500 million and a $500 million gain for the quarter, compared to a gain of $405 million in the fourth quarter of 2012.
The results topped the estimates of Wall Street, which was looking for earnings of 54 cents a share on revenue of $17.79 billion.
Microsoft said its devices and consumer, and commercial segments yielded upbeat results in the first quarter.
During the quarter, devices and consumer revenue rose 4% to $7.46 billion and commercial revenue jumped 10% to $11.20 billion.
6.-- Twitter said in a filing on Thursday that its initial public offering will be priced at between $17 and $20 a share, after announcing earlier in October the micro-blogging site will list its shares on the New York Stock Exchange .
The company will look to sell 70 million shares, meaning it is attempting to offer up to $1.4 billion in stock through the IPO. Twitter also will have the ability to sell an additional 10.5 million shares, bringing the offering potentially more than $1.6 billion.