CNBC
U.S. stock futures were higher this morning after record closes for the Dow, S&P 500 and Nasdaq. With Thursday's gains, the major averages are all on track for a positive week, with the S&P 500 set to chalk up its fourth straight weekly gain. The Nasdaq has a seven-day win streak going, its longest in 10 months, while the Dow and S&P 500 have been up in six of the past seven sessions. (CNBC)
On today's economic calendar, the government issues its final revision of third quarter GDP at 8:30 a.m. ET. November personal income and consumer spending numbers are out at 10 a.m. ET. The Fed's favorite inflation measure, the core personal consumption expenditures price index, is also released at 10 a.m. ET. (CNBC)
BlackBerry (BB), CarMax (KMX), Carnival (CCL) and Winnebago (WGO) are out with quarterly earnings before today's opening bell. No earnings reports are scheduled for this afternoon. (CNBC)
Boeing's (BA) spacecraft Starliner did not achieve the proper orbit it needed to reach the International Space Station, shortly after the capsule launched from Florida early Friday morning. "Starliner in stable orbit. The burn needed for a rendezvous with the ISS did not happen. Working the issue," NASA said. (CNBC)
Nike (NKE) reported quarterly earnings and sales that beat expectations, as more customers flocked to its stores for limited-edition Jordan sneakers and ordered athletic apparel from its website. Though shares fell in premarket trading, as North American sales growth was weaker than expected. (CNBC)
Happy holidays from us here at "Morning Squawk." We'll be back in your inbox bright and early on Dec. 26.
IN THE NEWS TODAY
Facebook (FB) experienced a data breach that exposed personal data from more than 267 million users, according to cybersecurity experts. Facebook said it is investigating, but added that it appears the exposed data was from a period of time before new security improvements implemented over the past few years. (Engagdet)
Royal Dutch Shell (RDS.A) said today it expects to write down up to $2.3 billion in the fourth quarter, the latest major energy company forced to shrink estimates for sector values due to a weaker economic outlook. In a trading update ahead of full year results, Shell also said it expected weaker margins in its refining, trading and marketing division while maintaining spending on the lower end of forecasts amid slowing demand for oil and gas. (Reuters)
STOCKS TO WATCH
Biogen (BIIB) announced a $5 billion stock buyback program. The drug company said the new buyback is in addition to a program previously authorized in March.
Scholastic Corp. (SCHL) reported adjusted quarterly profit of $2.06 per share, beating the consensus estimate of $1.77, with the children's book publisher also seeing revenue beat forecasts. Its results got a boost from growth in the company's book fairs business.
Michaels Companies (MIK) was downgraded to "underweight" from "equal-weight" at Morgan Stanley, which said the arts and crafts retailer faces challenges to revenue growth and profit margins. It also cut its price target on the stock to $5 per share from $7.
CONTRIBUTORS
Jessica Bursztynsky
@jbursz
Peter Schacknow
@peterschack
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