NEW YORK (TheStreet) -- Here are 10 things you should know for Wednesday, April 17:
1. -- U.S. stock futures were pointing to a lower open on Wall Street Wednesday as technology shares looked to be poised for weakness after reports from Yahoo! (YHOO) and Intel (INTC) disappointed investors.
2. -- The economic calendar in the U.S. Wednesday includes the release of the Federal Reserve's "Beige Book" of economic conditions at 2 p.m. EDT.
3. -- U.S. stocks on Tuesday rebounded as Coca-Cola and Johnson & Johnson reported earnings that beat forecasts, helping calm investors in the wake of the bomb attacks at the Boston Marathon on Monday. The S&P 500 rose 1.4% to finish at 1,574.57. Gold recovered on Tuesday from its steepest decline in three decades. Meanwhile, the latest reports said three people died and 176 were injured from the explosions that took place near the finish line of the marathon.
4. -- Bank of America (BAC) reported net income for the first quarter of $2.6 billion, or 20 cents a share, compared with year-earlier earnings of $653 million, or 3 cents a share. Analysts were looking for first-quarter earnings of 22 cents a share.
5. -- Yahoo! (YHOO), the Internet giant, posted quarterly earnings that beat Wall Street expectations, but revenue continued to move in the wrong direction and guidance came in short of estimates. Yahoo! reported first-quarter non-GAAP earnings of 38 cents a share on revenue of $1.14 billion, excluding traffic acquisition costs. Including TAC, sales were $1.07 billion. Analysts expected Yahoo! to earn 24 cents a share on $1.1 billion in revenue for the first quarter. Yahoo!'s second-quarter guidance came in below estimates. Excluding TAC, revenue is expected to be between $1.06 billion and $1.09 billion, with non-GAAP operating income between $190 million and $210 million. Analysts polled by Thomson Reuters are looking for sales of $1.12 billion.
6. -- Intel (INTC) topped Wall Street's first-quarter sales estimates but earnings were below forecasts. The chipmaker earned 40 cents a share, down from 53 cents a share in the prior year's quarter. Intel reported revenue of $12.6 billion, compared to $12.9 billion for the same period last year. Analysts were looking for earnings of 41 cents a share and revenue of $12.59 billion. For its fiscal second quarter, Intel expects revenue of $12.9 billion, plus or minus $500 million, broadly in line with Wall Street's forecast of $12.85 billion. Intel also predicts a gross margin of 58%, plus or minus a couple of percentage points.
7. -- American Express (AXP) is expected by Wall Street on Wednesday to report first-quarter profit of $1.12 a share on revenue of $8.03 billion.
8. -- EBay (EBAY), which reports Wednesday after the closing bell, is forecast to post quarterly profit of 62 cents a share on revenue of $3.76 billion.
9. -- Tesco, the U.K.'s largest supermarket operator, said it is looking to sell its U.S. operations after net profit for the year dropped 96%.
Select the service that is right for you!COMPARE ALL SERVICES
- $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
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV