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Morning Briefing: 10 Things You Should Know

Tickers in this article: COST GRPN AAPL GMCR KCG

NEW YORK (TheStreet) -- U.S. stock futures suggested Wall Street would open lower Wednesday as investors fretted about the slow pace of negotiations over the so-called U.S.fiscal cliff.

European stocks were falling whiles Asian shares ended Wednesday's trading session in the red. Japan's Nikkei 225 index fell 1.2% to close at 9,308.35.


The economic calendar in the U.S. Wednesday includes new-home sales for October at 10 a.m. EST, and the release of the Federal Reserve's beige book survey on economic conditions for October at 2 p.m.


U.S. stocks on Tuesday finished with losses amid lingering concerns about the progress of budget talks on Capitol Hill.

The Dow Jones Industrial Average lost more than 89 points, or 0.69%, to close at 12,878.


Green Mountain Coffee Roasters(GMCR) blew past Wall Street's expectations in its fiscal fourth quarter.

For its fiscal first quarter ending in December, Green Mountain forecast non-GAAP earnings of 62 cents to 67 cents a share and total sales growth of 14% to 18%. The current consensus view is for a profit of 59 cents a share.


Costco Wholesale (COST) , the warehouse retailer, plans to pay a special dividend of $7 a share, or about $3 billion. It also said Wednesday that first-quarter sales jumped 10%.


Earnings are expected Wednesday from American Eagle Outfitters(AEO) , Coldwater Creek(CWTR) , Express(EXPR) , Fresh Market(TFM) , Guess?(GES) , Jos. A. Bank Clothiers(JOSB) , La-Z-Boy(LZB) , Movado Group(MOV) , New York & Co.(NWY) , Pall(PLL) and TiVo(TIVO) .


Virtu Financial has emerged as the early front-runner to buy Knight Capital Group (KCG) in a deal expected to value the brokerage firm at more than $1 billion, The Wall Street Journal reported, citing people briefed about the continuing sale talks.


In tech news, Apple (AAPL) reportedly fired William Richardson, the tech giant's senior director of iOS services, over the failure of its new Maps app, while Groupon(GRPN) co-founder Andrew Mason could be on his way out as CEO, according to a report.


-- Written by Joseph Woelfel

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