June 13 Premarket Briefing: 10 Things You Should Know
BY Joseph Woelfel | 06/13/14 - 06:54 AM EDT
Here are 10 things you should know for Friday, June 13:
1. -- U.S. stock futures were pointing slightly higher Friday while European stocks fell and oil prices surged as insurgents advanced toward Baghdad.
Stocks in London fell after Bank of England Governor Mark Carney predicted an interest rate hike might come sooner than expected.
Asian stocks finished the trading session higher.
2. -- The economic calendar in the U.S. on Friday includes the Producer Price Index for May at 8:30 a.m. EDT, and the University of Michigan Sentiment Index for June at 9:55 a.m.
3. -- U.S. stocks on Thursday declined with the S&P 500 down 0.71% to 1,930.1, following its biggest daily decline in three weeks a day earlier. However, the index is only 1.1% lower than its record-breaking close of 1,951.27 achieved on Monday.
The Dow Jones Industrial Average tumbled 0.65% to close at 16,734.19 on Thursday, and the Nasdaq shed 0.79% to 4,297.63.
4. -- Intel (INTC_) raised its revenue guidance for the second quarter to $13.4 billion to $14 billion after saying that sales of computers for businesses have been stronger than expected.
The world's largest chipmaker previously had expected revenue of $12.5 billion to $13.5 billion in the quarter.
The company also said it expects stronger profit margins.
5. -- The group that owns Univision Communications, the dominant Spanish-language broadcaster in the U.S., have held preliminary discussions in recent weeks with several media companies, including CBS (CBS_) and Time Warner (TWX_), The Wall Street Journal reported, citing people familiar with the matter.
Univision is controlled by a consortium of investors including billionaire Haim Saban. The owners are seeking more than $20 billion for the company, according to people familiar with the matter, the Journal reported. The group bought Univision for $13.7 billion, including debt, in early 2007.
6. -- Tesla (TSLA_), the electric carmaker, promised Thursday to give away the company's entire patent portfolio to all comers, as long as they promised not to engage courtroom battles over intellectual property.
"If we clear a path to the creation of compelling electric vehicles, but then lay intellectual property landmines behind us to inhibit others, we are acting in a manner contrary to that goal," CEO Elon Musk wrote in a blog on the company's Web site.
The decision opens the door to more collaboration with Tesla, which already is making electric systems for Daimler and Toyota (TM_). Other automakers using Tesla's technology could potentially share the cost of Tesla's charging stations, for example, and more charging stations could entice skeptical buyers to try electric cars.
7. -- Shares of clothing retailer Express (EXPR_) soared in after-hours trading on Thursday after Sycamore Partners said it's interested in acquiring the company.
Sycamore said in a regulatory filing that it acquired a 9.9% stake in Express.
Sycamore said it sent a letter to the board of Express expressing its desire to do due diligence on the company so it could determine an offer price.
Express, in a press release late Thursday, said it established a special board committee "to determine a course of action it believes is in the best interest of all stockholders."
8. -- Finisar (FNSR_) posted fiscal fourth-quarter adjusted earnings of 36 cents a shaere, 2 cents shy of analysts' projections.
Revenue of $306 million in the quarter rose 25.7% from the same period a year earlier.
The maker of optical components said it expects first-quarter revenue of $320 million to $335 million
9. -- Canada's Amaya Gaming Group agreed to buy the parent of online poker brands PokerStars and Full Tilt Poker for $4.9 billion.
Oldford Group is the parent company of Rational Group, which owns and operates PokerStars and Full Tilt Poker.
The deal would create the world's largest online gambling company, according to The New York Times.
10. -- The U.S. Marshals Service said it will auction roughly $18 million in bitcoins seized last fall from Silk Road, a Web site that was effectively the eBay of illegal drugs.
The marshals said Thursday they will auction the virtual "coins," consisting of sets of numbers entered in an online public ledger, via the Web on June 27.
Apple Is Regaining Its Momentum After the Stock Split
High-Yielding Seadrill Will Sail Through Difficult Waters
-- Written by Joseph Woelfel
To contact the writer of this article, click here:Joseph Woelfel
To submit a news tip, send an email to:tips@thestreet.com.
Follow @josephwoe58
Copyright 2014 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.
AI
