The economic calendar in the U.S. Wednesday includes new-home sales for October at 10 a.m. EST, and the release of the Federal Reserve's beige book survey on economic conditions for October at 2 p.m.
U.S. stocks on Tuesday finished with losses amid lingering concerns about the progress of budget talks on Capitol Hill. The Dow Jones Industrial Average lost more than 89 points, or 0.69%, to close at 12,878.
Green Mountain Coffee Roasters (GMCR) blew past Wall Street's expectations in its fiscal fourth quarter. For its fiscal first quarter ending in December, Green Mountain forecast non-GAAP earnings of 62 cents to 67 cents a share and total sales growth of 14% to 18%. The current consensus view is for a profit of 59 cents a share.
Costco Wholesale (COST - Get Report), the warehouse retailer, plans to pay a special dividend of $7 a share, or about $3 billion. It also said Wednesday that first-quarter sales jumped 10%.
Earnings are expected Wednesday from American Eagle Outfitters (AEO) , Coldwater Creek (CWTR), Express (EXPR), Fresh Market (TFM), Guess? (GES), Jos. A. Bank Clothiers (JOSB), La-Z-Boy (LZB), Movado Group (MOV), New York & Co. (NWY), Pall (PLL) and TiVo (TIVO).
Virtu Financial has emerged as the early front-runner to buy Knight Capital Group (KCG - Get Report)in a deal expected to value the brokerage firm at more than $1 billion, The Wall Street Journal reported, citing people briefed about the continuing sale talks.
In tech news, Apple (AAPL - Get Report) reportedly fired William Richardson, the tech giant's senior director of iOS services, over the failure of its new Maps app, while Groupon (GRPN) co-founder Andrew Mason could be on his way out as CEO, according to a report.
-- Written by Joseph Woelfel >To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: firstname.lastname@example.org.