Morning Briefing: 10 Things You Should Know
NEW YORK (TheStreet) -- Here are 10 things you should know for Thursday, Feb. 14:
1. -- U.S. stock futures were pointing to a mixed open for Wall Street on Thursday as investors look ahead to a meeting of G-20 finance ministers this weekend.
European stocks were higher despite data that showed Germany's economy shrank in the fourth quarter of 2012. Asian stocks finished mostly higher. Japan's Nikkei 225 index rose 0.5% to close at 11,307.28. Data showed that Japan's economy shrank for a third straight quarter in the last three months of 2012.
2. -- The economic calendar in the U.S. Thursday includes weekly initial jobless claims at 8:30 a.m. EST.
3. -- U.S. stocks on Wednesday closed mixed.
The Dow Jones Industrial Average fell 36 points, or 0.3%, to close at 13,983.
The S&P 500 rose about 1 point to 1,520. The index touched its highest level since November 2007 at an intraday high of more than 1,524.
The Nasdaq gained 10 points, or 0.3%, to finish at 3,197.
4. -- The merger of American Airlines and US Airways(LCC) will be formally announced Thursday, according to reports.
The boards of American parent AMR(AAMRQ.PK) and US Airways approved the deal to create the world's largest airline late Wednesday, according to people close to the situation, The Associated Press said.
5. -- Cisco(CSCO) beat Wall Street's second-quarter earnings and revenue estimates.
For the third quarter, Cisco predicted revenue between $12.06 billion and $12.3 billion and earnings, excluding items, between 48 cents a share and 50 cents a share. Analysts are looking for sales of $12.22 billion and earnings of 49 cents a share.
6. -- Automaker General Motors(GM) is expected by analysts Thursday to report fourth-quarter earnings of 51 cents a share on revenue of $39.14 billion.
7. -- Whole Foods(WFMI) , the natural and organic grocery chain, said Wednesday that fiscal first-quarter profit rose 24% as revenue jumped almost 14%. But it narrowed its revenue forecast and said its earnings growth could slow.
10. -- Brazilian regulators on Wednesday rejected Apple's(AAPL) request to register the iPhone name in that country, the Journal reported.
-- Written by Joseph Woelfel
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