The day ahead: Friday

November 12, 2009

JC Penney reports quarterly results, with investors primed for the department store operator to beat estimates as its rivals Macy’s and Kohl’s did earlier in the week.

Other highlights:

*  Barack Obama makes his first trip to Asia as president, leaving behind a host of domestic problems on a visit that recognizes the region’s economic and diplomatic importance to the United States.

*  Google and a group representing authors and publishers face a Friday Department of Justice-set deadline to submit a revised agreement over modifications to a controversial electronic books licensing deal.

*  Initial public offerings from Dollar General, a leading discount chain owned by KKR, and rue21, a fast growth youth apparel chain owned by Apax Partners, begin trading on the NYSE.

*  On the economic front, expect international trade data and a preliminary reading on the November Reuters/University of Michigan sentiment index.

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