NEW YORK (TheStreet) -- U.S. stock futures were pointing to a flat to lower open on Wall Street Wednesday following a selloff in the previous trading session on worries over global growth prospects.
European shares were tacking on losses while Asian stocks finished in the red. Japan's Nikkei 225 stock average closed down 2% at 8,906.70
The economic calendar in the U.S. on Wednesday includes new-home sales for August at 10 a.m. EDT.
U.S. stocks on Tuesday suffered steep losses after Federal Reserve Bank of Philadelphia President Charles Plosser said he believes it's unlikely the central bank's third round of quantitative easing will meaningfully boost the economy. The Dow Jones Industrial Average fell more than 101 points, or 0.75%, to close at 13,458.
Yahoo! (YHOO), the Internet giant, named Ken Goldman as chief financial officer. Goldman replaces Tim Morse, who had been with Yahoo! for more than three years. Morse is expected to leave the company this fall. Goldman most recently served as financial chief of Fortinet (FTNT).
IBM (IBM) plans to announce Wednesday it will ramp up its efforts to sell so-called cloud computing services to mid-size businesses, The Wall Street Journal reported.
Cisco (CSCO) CEO John Chambers identified senior managers that are being considered as possible successors when he retires, a move that could come in two to four years, Bloomberg reported. There are as many as 10 candidates, Chambers told Bloomberg in an interview. They include Gary Moore, chief operating officer; Robert Lloyd, executive vice president of worldwide operations; Chuck Robbins, senior vice president of the Americas; and Edzard Overbeek, senior vice president of global services.
Jabil Circuit (JBL), the electronics manufacturing services company, missed Wall Street's expectations Tuesday in its latest quarterly results. It also issued a weak forecast for its first quarter.
Bookseller Barnes & Noble (BKS) rolled out its new Nook HD line on Wednesday.
-- Written by Joseph Woelfel
>To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: email@example.com.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV