October 7 Premarket Briefing: 10 Things You Should KnowNEW YORK (TheStreet) -- Here are 10 things you should know foraTuesday, Oct. 7: 1. -- U.S. stock futures were falling on Tuesday and European stocksadeclinedaas industrial output in Germany slumped in August. Asian shares ended Tuesdays session mixed.aTokyos Nikkei 225 fell 0.7%. 2. -- The economic calendar in the U.S. onaTuesday includes the Job Openings and Labor Turnover Survey for August at 10 a.m. EDT, and consumer credit for August at 3 p.m. Must Read: Here Are 20 Stocks That Could Buck the Odds and Do Well in October 3. -- U.S. stocksaon Monday closed lower as profit-taking among chipmakers and small-caps kept the tech-heavyaNasdaq and small-cap index Russell 2000 in the red. The S&P 500 aclosed 0.16% lower while the Dow Jones Industrial Average dipped 0.1%. The Nasdaq declined 0.47% and the Russell shed 0.79%. 4. -- Samsung, the worlds biggest smartphone maker, said Tuesday its quarterly profit is estimated to have fallen to its lowest level in more than three years, dragged down by weak sales of its new Galaxy model. Samsungabecame the biggest smartphone brand on the popularity of earlier Galaxy models. But the bigger screen on Apples new iPhone 6 is luring away Americans who liked the bigger Galaxy, while in China, local brands are making inroads into Samsungsaabusiness. In its outlook Tuesday, Samsung said the median forecast of July-September operating income was 4.1 trillion won ($3.8 billion), below analysts expectations of 5.2 trillion won, according to FactSet. It would be a 60% plunge from record-high 10.2 trillion won a year earlier. 5. -- Rio Tinto asaid Tuesday it was approached in July by Glencorea about a takeover but Rio Tinto rejected the proposal. If completed, the mergerawould have been one of theabiggest deals in mining history, according to The Wall Street Journal. It would have created a company worth about $160 billion. Rio Tinto, in a statement, said a merger with Glencore wasnt in the best interests of shareholders. The companies havent been in contact since August, Rio Tinto said. No discussions are taking place with Glencore, Rio Tinto said. 6. --aYum! Brands , which operates Taco Bell, KFC and Pizza Hut, is expected by analysts on Tuesday to report third-quarter earnings ofa89 cents a share onarevenue of $3.48 billion.a Must Read: Can These 22 New Restaurant Foods and Drinks Feed Investors Too? 7. --a Hackers who breached JPMorgan Chases computeranetwork earlier this year also tried to infiltrate a number of other financial institutions, but the companies believe they were unsuccessful, the Journal reported, citing people familiar with the investigation. Federal officials asked a group of large banks and other financial institutions last month to check if they had seen indicators associated with the JPMorgan cyberattack, the people said. A number of financial institutions responded they had seen traffic from the suspect computer addresses linked to the hackers, but that they didnt believe they had been breached, the peopleatold the Journal. It is unclear which financial institutions were targeted by the hackers, the Journal reported. 8. --aThe European Commission isaconfronting Luxembourg over an unorthodox Amazona tax deal, alleging it allowed the online retail giant to reap potentially illegal state subsidies for its European operations for almost a decade, The Financial Times reported. The European Commission is poised to launch a formal in-depth probe into its serious concerns over improper state aid, dragging Amazonainto a multi-pronged clampdown on sweetheart tax deals that has already ensnared Apple in Ireland and Starbucks in the Netherlands, the FT noted. 9. -- IBM and Globalfoundries have resumed talks for IBM to offload its money-losing chip-manufacturing unit, Bloomberg reported, citing a person familiar with the matter. Negotiations had broken down in July after IBM offered to pay Globalfoundries about $1 billion to take the unit, a person familiar said at the time. IBM is now willing to pay Globalfoundries more to take over the operations, the personatold Bloomberg on Monday. 10. -- Turner Broadcasting, the parent of the CNN, TBS and TNT networks, is eliminating about 1,475 jobs, or about 10% of its work force. The announcement on Monday follows an offer of voluntary buyouts to 600 veteran employees in August, part of an overall cost-cutting effort at the Atlanta-based broadcasting company founded by Ted Turner. TurneraBroadcasting System is a unit of Time Warner . Must Read: 10 Best Apple Products Ever -- 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. Follow @josephwoe58 Click to view a price quote on YUM. Click to research the Leisure industry. By twocents@thestreet (Joseph Woelfel) NEW YORK (TheStreet) -- Here are 10 things you should know foraTuesday, Oct. 7: 1. -- U.S. stock futures were falling on Tuesday and European stocksadeclinedaas industrial output in Germany slumped in August. Asian shares ended Tuesdays session mixed.aTokyos Nikkei 225 fell 0.7%. 2. -- The economic calendar in the U.S. onaTuesday includes the Job Openings and Labor Turnover Survey for August at 10 a.m. EDT, and consumer credit for August at 3 p.m. Must Read: Here Are 20 Stocks That Could Buck the Odds and Do Well in October 3. -- U.S. stocksaon Monday closed lower as profit-taking among chipmakers and small-caps kept the tech-heavyaNasdaq and small-cap index Russell 2000 in the red. The S&P 500 aclosed 0.16% lower while the Dow Jones Industrial Average dipped 0.1%. The Nasdaq declined 0.47% and the Russell shed 0.79%. 4. -- Samsung, the worlds biggest smartphone maker, said Tuesday its quarterly profit is estimated to have fallen to its lowest level in more than three years, dragged down by weak sales of its new Galaxy model. Samsungabecame the biggest smartphone brand on the popularity of earlier Galaxy models. But the bigger screen on Apples new iPhone 6 is luring away Americans who liked the bigger Galaxy, while in China, local brands are making inroads into Samsungsaabusiness. In its outlook Tuesday, Samsung said the median forecast of July-September operating income was 4.1 trillion won ($3.8 billion), below analysts expectations of 5.2 trillion won, according to FactSet. It would be a 60% plunge from record-high 10.2 trillion won a year earlier. 5. -- Rio Tinto asaid Tuesday it was approached in July by Glencorea about a takeover but Rio Tinto rejected the proposal. If completed, the mergerawould have been one of theabiggest deals in mining history, according to The Wall Street Journal. It would have created a company worth about $160 billion. Rio Tinto, in a statement, said a merger with Glencore wasnt in the best interests of shareholders. The companies havent been in contact since August, Rio Tinto said. No discussions are taking place with Glencore, Rio Tinto said. 6. --aYum! Brands , which operates Taco Bell, KFC and Pizza Hut, is expected by analysts on Tuesday to report third-quarter earnings ofa89 cents a share onarevenue of $3.48 billion.a Must Read: Can These 22 New Restaurant Foods and Drinks Feed Investors Too? 7. --a Hackers who breached JPMorgan Chases computeranetwork earlier this year also tried to infiltrate a number of other financial institutions, but the companies believe they were unsuccessful, the Journal reported, citing people familiar with the investigation. Federal officials asked a group of large banks and other financial institutions last month to check if they had seen indicators associated with the JPMorgan cyberattack, the people said. A number of financial institutions responded they had seen traffic from the suspect computer addresses linked to the hackers, but that they didnt believe they had been breached, the peopleatold the Journal. It is unclear which financial institutions were targeted by the hackers, the Journal reported. 8. --aThe European Commission isaconfronting Luxembourg over an unorthodox Amazona tax deal, alleging it allowed the online retail giant to reap potentially illegal state subsidies for its European operations for almost a decade, The Financial Times reported. The European Commission is poised to launch a formal in-depth probe into its serious concerns over improper state aid, dragging Amazonainto a multi-pronged clampdown on sweetheart tax deals that has already ensnared Apple in Ireland and Starbucks in the Netherlands, the FT noted. 9. -- IBM and Globalfoundries have resumed talks for IBM to offload its money-losing chip-manufacturing unit, Bloomberg reported, citing a person familiar with the matter. Negotiations had broken down in July after IBM offered to pay Globalfoundries about $1 billion to take the unit, a person familiar said at the time. IBM is now willing to pay Globalfoundries more to take over the operations, the personatold Bloomberg on Monday. 10. -- Turner Broadcasting, the parent of the CNN, TBS and TNT networks, is eliminating about 1,475 jobs, or about 10% of its work force. The announcement on Monday follows an offer of voluntary buyouts to 600 veteran employees in August, part of an overall cost-cutting effort at the Atlanta-based broadcasting company founded by Ted Turner. TurneraBroadcasting System is a unit of Time Warner . Must Read: 10 Best Apple Products Ever -- 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. Follow @josephwoe58 Click to view a price quote on YUM. Click to research the Leisure industry. ift.tt/1gB4pon
Posted on: Tue, 07 Oct 2014 11:20:01 +0000
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