NEW YORK (TheStreet) -- U.S. stock futures suggested Wall Street would open lower Wednesday as investors fretted about the slow pace of negotiations over the so-called U.S.fiscal cliff.
European stocks were falling whiles Asian shares ended Wednesday's trading session in the red. Japan's Nikkei 225 index fell 1.2% to close at 9,308.35.
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), 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)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) 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: 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