CNBC
Compiled by
Matthew J. Belvedere and Peter Schacknow
IN THE NEWS TODAY
U.S. stock futures were higher this morning, ahead of the three-day Memorial Day weekend. The Dow and S&P 500 were looking to score their third straight week of gains . The stock market is closed on Monday. (CNBC)
But it promises not to be a lazy pre-holiday Friday, with consumer inflation data for last month out at 8:30 a.m. ET this morning and Fed Chair Janet Yellen speaking this afternoon at 1 p.m. ET in Rhode Island. (CNBC)
European Central Bank President Mario Draghi today said "growth is too low everywhere" in the 19-country euro zone despite a modest recovery. He also said inflation was too low. (AP)
Hewlett-Packard (HPQ) beat expectations on earnings, missed slightly on revenue, and issued weak forward guidance. The tech giant also expects lower costs for the spinoff of its PC and printer businesses. (CNBC)
Aeropostale (ARO) shares were getting crushed in premarket trading, after the teen apparel retailer reported late Thursday a worse-than-expected loss, a miss on revenue, and a larger-than-expected current-quarter loss. (AP)
Ride-hailing start-up Uber is seeking a $1 billion credit line from banks, a move that can often signal the early stages of preparation for an initial public offering. (WSJ)
The successful IPO of Shopify could prompt Hootsuite, another promising Canadian tech startup, to tap public markets sooner rather than later, said founder and CEO Ryan Holmes. (Reuters)
The worst U.S. avian-flu outbreak ever has resulted in the deaths or extermination of at least 38.9 million birds. That's about 10 percent of the U.S. egg-laying flock. Egg prices are soaring as a result. (WSJ)
The Patriot Act-first passed in the wake the 9/11 attacks to expand the government's counterterrorism abilities-could come to end without Senate action today, unless lawmakers cut their recess short. (USA Today)
Ireland votes today on whether to allow gay marriage in a referendum that could make the once deeply Catholic country the first in the world to adopt the policy by popular vote. (Reuters)
Despite a wave of optimism, U.S. and Cuban negotiators meeting in Washington could not reach an accord on re-establishing long-fractured diplomatic ties, but agreed to keep talking today. (NY Times)
BY THE NUMBERS
China stocks clinched a new seven-year high overnight, marking their biggest weekly gain since December. Meanwhile, stocks in Japan finished the week at their highest levels in 15 years.
Oilfield services giant Baker hughes (BHI) is out with its weekly rig count report at 1 p.m. ET. It tracks active drilling on crude and natural gas. While oil prices recently rebounded somewhat, many producers have already cut back sharply on their spending budgets this year.
Campbell Soup (CPB), Deere & Co. (DE), Foot Locker (FL) and Ann Inc. (ANN) are among the companies out with quarterly earnings this morning, with no major companies reporting results after today's closing bell.
STOCKS TO WATCH
Gap (GPS) late Thursday reported earnings that matched forecasts and revenue that came up short. The apparel retailer did back its previous earnings guidance for the full year.
Ross Stores (ROST) late Thursday issued earnings and revenue that beat forecasts. Same store sales for the discount retailer were up a better-than-expected 5 percent.
Time Warner Cable (TWC) and Charter Communications (CHTR) are in talks about a TWC buyout that would come in well above $170 per share, according to the Wall Street Journal.
BlackBerry (BBRY) plans to buy back about 2.6 percent of its outstanding shares, to negate potential negative effects of a proposed employee stock purchase plan.
