U.S. Morning Call: Tiffany's loses luster; Groupon eyes CEO
Thursday, November 29, 2012 - 03:05
Nov 29 - Tiffany & Co lowered its fiscal-year sales and profit outlook as it reported lower-than-expected quarterly sales; Groupon CEO Andrew Mason could be on the chopping block at today's board meeting.
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Here's your morning call for Thursday US stock futures point to a higher open on Wall Street. One man's words changing the tone of the markets house speaker John Boehner said on Wednesday optimistic about working with the president to avert our fiscal crisis. Those -- also giving a boost to European stocks today as you can see there in the green as well. Some key data out today could also determine the mood on Wall Street we'll get a second read on third quarter GDP. Growth likely to rise to a two point 8% annual pace from 2% thanks to restocking by businesses and smaller deficit on the trade balance. IFR says that combination will likely mean more weakness in the coming quarters as trade covers and inventories dragged on production. Next up we have the pending home sales index that's expected to take up. Two point 8% for October QE3 will likely have had an effect with lower mortgage rates helping those to scrounge up credit. And finally look for the release of weekly jobless claims data and that number expected to drift down to 390000. After a surge in the prior week to hurricane sandy. -- on earnings starting with Barnes & Noble the number one US bookstore chain set to report before today's open. Investors will get their first real look at how well the -- launch no HD tablet is doing against competitors. Like Apple's iPad and Amazon's Kindle in the red hot tablet market. Also get same store sales figures shares of Barnes and -- seeing a solid 9% gain for the year. -- results also out before the bell the supermarket operators expected to report -- EPS of 43 cents for the quarter. Ten cents up from last year investors usually -- a report as a barometer for consumer spending. And Tiffany's posted results just moments ago shares sharply lower in the premarket down over 13%. After the upscale jeweler cut its fiscal year sales and profit forecast. As reported lower than expected quarterly sales. To blame global economic conditions and -- sales of its own particular. And finally it's stocks to watch keep an eye and retailers today Nordstrom -- and TJ Maxx expected to come out on top when they post November sales. Helped by strong Thanksgiving weekend. -- gotten used courts stock today as well in about an hour British lawmakers will deliver a verdict. On a yearlong inquiry into the British press scandals involving Rupert Murdoch's news court. And last but not least take a look at shares of Groupon Groupon founder Andrew Mason's fate lies in the hands of his board members. And they need today to talk about possibly bringing in new CEO. Mason said on Wednesday he would step down from the struggling company needed. That's it -- Thursday morning caught check out our YouTube channel at Reuters dot com slash writers TV. Also follow us on Twitter at Reuters Insider and the super -- this is way.
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