European Economics Preview: Eurozone Retail Sales, Final PMI Due

Retail sales and final Purchasing Managers’ survey results from the euro area are the top economic data due on Monday, headlining a busy day for the European economic news.

At 3.00 am ET, retail sales from Hungary and real wages from the Czech Republic are due.

At 3.15 am ET, Spain’s S&P Global services Purchasing Managers’ survey data is due. The index is forecast to rise to 50.5 in November from 49.7 in the previous month.

At 3.45 am ET, Italy’s services PMI data is due. Economists expect the index to rise to 48.3 in November from 46.4 a month ago.

Final PMI survey results are due from France and Germany at 3.50 and 3.55 am ET, respectively.

At 4.00 am ET, S&P Global publishes euro area final composite PMI survey results. The final reading is seen at 47.8 in November, unchanged from the flash estimate.

Half an hour later, UK S&P/CIPS final composite Purchasing Managers’ data is due. The preliminary survey showed that the index remained unchanged at 48.8 in November.

At 5.00 am ET, Eurostat publishes euro area retail sales figures for October. Economists expect sales to fall 1.7 percent on month, in contrast to the 0.4 percent rise in September.

DocuSign Stock Gains 12% On Quarterly Results

Shares of DocuSign, Inc. (DOCU) are gaining over 12% on Friday morning after reporting third quarter results.

DOCU is currently trading at $49.37, up $5.62 or 12.85%, on the Nasdaq, on a volume of 13 million shares, above average volume of 4.8 million. The stock opened its trading at $47.53 after closing Thursday’s trading at $43.75. The stock has traded between $39.57 and $159.73 in the 52-week period.

Revenues was $645.5 million, an increase of 18% year-over-year. Subscription revenue was $624.1 million, an increase of 18% year-over-year. Professional services and other revenue was $21.4 million, an increase of 27% year-over-year.

Third-quarter net loss was $29.9 million or $0.15 per share, wider than last year’s loss of $5.7 million or $0.03 per share last year. Adjusted income per share was $0.57 compared to $0.58 last year.

Looking forward, the company expects revenues of $637 million to $641 million for the fourth quarter and $2.493 billion to $2.497 billion for the full year.

Phreesia Climbs After Reporting Growth In Q3 Revenue

Phreesia, Inc. (PHR) shares are gaining more than 15 percent on Friday morning trade after the company announced an increase in third-quarter revenues compared to the prior year.

Revenue for the quarter increased to $73.10 million, compared to $55.92 million in the prior year.

Currently, shares are at $30.79, up 15 percent from the previous close of 326,529.

Brad Pitt Selling Majority Stake In Plan B To France’s Mediawan

Brad Pitt’s Plan B Entertainment is selling a majority stake to Paris-based Mediawan, Deadline has confirmed, following news several months ago that the company was seeking a buyer.

There are no financial details on the transaction, which could be announced as early as this weekend.

The company, run by president Dede Gardner and co-president Jeremy Kleiner, recently produced She Said and its credits include The Departed, Moonlight and 12 Years a Slave.

Plan B had hired investment bank Moelis & Co. to explore options. The deal will be the latest in a string of high-profile production companies cashing in on the boom in content.

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Gold Futures Settle Modestly Higher

Gold futures settled higher on Friday as the dollar stayed largely sluggish with traders looking ahead to the Federal Reserve’s policy announcement, due next week.

However, the yellow metal pared a good portion of its earlier gains as data showed U.S. producer price inflation came in slightly higher than what economists had expected.

The dollar index, which surged to 105.14 after the data on producer price, dropped to around 104.70 by noon.

Gold futures for February ended higher by $9.20 or about 0.5% at $1,810.70 an ounce

Silver futures for March ended up $0.471 or about 2% at $23.717 an ounce, while Copper futures for March settled at $3.8785 per pound, down $0.0050 or about 0.1% from the previous close.

The Labor Department said its producer price index for final demand rose by 0.3% in November, matching upwardly revised increases in October and September.

Economists had expected producer prices to inch up by 0.1% compared to the 0.2% uptick originally reported for the previous month.

A report from the University of Michigan showed one-year inflation expectations fell to a fifteen-month low of 4.6% in December from 4.9% in November, although five-year inflation expectations held at 3%.

The report said the consumer sentiment index climbed to 59.1 in December from 56.8 in November, while economists had expected the index to drop to 53.3.