Updated from 6:46 a.m. EDT
Here are 10 things you should know for Wednesday, March 19:
1.-- U.S. stock futures were higher early Wednesday but global stocks were mixed ahead of a policy announcement from the Federal Reserve later in the afternoon.
Japan's Nikkei 225 rose 0.4%. China's Shanghai Composite Index declined 0.2%.
2.-- The economic calendar in the U.S. on Wednesday includes the fourth-quarter current account balance at 8:30 a.m. EDT, and the rates decision from the Federal Open Market Committee at 2 p.m. EDT.
FedEx shares fell 0.5% to $137.90 in premarket trading on Wednesday. 5. -- The Justice Department is expected to announce a settlement with Toyota (TM) as early as Wednesday that could cost the automaker more than $1 billion to end a criminal probe into its disclosure of safety issues, people familiar with the matter told The Wall Street Journal. The deal would cap a four-year investigation with one of the largest fines ever imposed on an automaker, the Journal noted.
Toyota shares fell 0.5% in premarket trading. 6. -- Oracle's (ORCL) fiscal third-quarter earnings rose 2% to $2.57 billion, or 56 cents a share, up from year-earlier earnings of $2.5 billion, or 52 cents. Adjusted profit in the latest quarter was 68 cents. Revenue rose 4% to $9.31 billion.
Oracle was expected by analysts to post fiscal third-quarter earnings of 70 cents a share on revenue of $9.36 billion.
Revenue from new software licenses and cloud software subscriptions increased 4% to $2.42 billion, as bookings for the company's cloud applications jumped more than 60%. Revenue from software license updates and product support rose 5% to $4.56 billion.
The stock fell 3.1% in premarket trading to $37.62. 7. -- Pandora (P) will raise the fees for its ad-free service by $1 a month to $4.99 a month in May, a move to cover the rising cost of licensing tunes. Pandora said royalties paid to artists had risen 53% over the past five years and will rise another 9% in 2015, according to Reuters.
Pandora rose 1.5% to $35.50. 8. -- Adobe's (ADBE) fiscal first-quarter earnings, which were inadvertently leaked ahead of schedule Tuesday, topped Wall Street's expectations driven by strength in its marketing cloud. Excluding one-off items, the software company reported earnings of 30 cents a share on revenue of $1 billion. Analysts expected earnings of 25 cents a share on revenue of $973.1 million.
Quarterly results were bolstered by a surge in Adobe's Marketing Cloud revenue by 24% year over year to $267 million.
Adobe shares rose 0.8% in premarket trading to $69.05. 9. -- Google (GOOG) on Tuesday unveiled an Internet-connected watch.
The "Android Wear" operating system released Tuesday is an altered version of Google's popular software. The new software will run on an array of so-called smartwatches scheduled to be released later this year.
The stock was up 0.3% in premarket trading. 10.-- Japan's Fast Retailing, parent of apparel chain Uniqlo, is no longer in talks to buy U.S. clothing retailer J.Crew Group from its private-equity owners, three people familiar with the matter told Reuters.
-- Written by Joseph Woelfel
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 Plus 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