Morning Briefing: 10 Things You Should Know
NEW YORK ( TheStreet) -- Here are 10 things you should know for Wednesday, Feb. 6:
1. -- U.S. stock futures were pointing to modest gains on Wall Street as Asian shares rose following a slide in the Japanese yen.
European stocks were moving slightly lower. Japan's Nikkei 225 index jumped 3.8% to 11,463.75, its highest level since September 2008.
2. -- The economic calendar in the U.S. Wednesday includes the MBA Mortgage Index at 7 a.m. EST and crude inventories at 10:30 a.m.
3. -- U.S. stocks on Tuesday rebounded as investors cheered the growing services sector and took cues from strength in the European markets.
The Dow Jones Industrial Average closed up 99 points, or 0.7%, to 13,979. The S&P 500 rose 16 points, or 1%, to 1,511.The Nasdaq jumped 40 points, or 1.3%, to 3,172.
4. -- Walt Disney's (DIS) fiscal first-quarter profit dipped slightly but it topped expectations as revenue rose 5% to $11.3 billion.
Disney earned $1.38 billion, or 77 cents a share, in the first quarter, down from year-earlier earnings of $1.46 billion, or 80 cents a share.
Adjusted earnings in the quarter were 79 cents a share, topping the Wall Street estimate of 76 cents a share.
Disney said programming and production costs at its ESPN network rose during the quarter.
Disney CEO Robert Iger, during a conference call Tuesday, said the entertainment giant was "confident about the year ahead, as well as our ability to create continued long-term growth."
5. -- Zynga (ZNGA) topped Wall Street's estimates on Tuesday, posting profit of 1 cent a share on fourth-quarter revenue of $311.1 million. Analysts were looking for a loss of 3 cents a share on sales of $212.1 million.
For the full year, Zynga reported sales of $1.28 billion, up 12% from a year earlier, as daily active users (DAUs) increased to 56 million in the fourth quarter from a year-earlier 54 million. DAUs decreased 6% sequentially from the third quarter to the fourth quarter.
For the first quarter of 2013, Zynga said it expects revenue of $255 million to $265 million, and a loss off 2 cents to 4 cents a share.
7. -- Nasdaq OMX (NDAQ) is in preliminary talks with the Securities and Exchange Commission over a potential settlement related to its botched handling of Facebook's(FB) initial public offering, The Wall Street Journal reported, citing people with knowledge of the discussions.
Nasdaq could pay a penalty of $5 million, according to the newspaper.
8. -- Royal Bank of Scotland (RBS) is expected to pay a fine of about 400 million pounds ($627 million) for its role in the global interest-rate rigging scandal, Reuters reported, citing sources familiar with the situation.