Here are 10 things you should know for Wednesday, Oct. 28:
1. -- U.S. stock futures were rising slightly as investors awaited the Federal Reserve's latest interest rate decision due Wednesday afternoon.
European stocks traded flat while Asian shares ended Wednesday's session mixed. Japanese stocks rose 0.7%.
2. -- The economic calendar in the U.S. on Wednesday includes the interest rates decision from the Federal Open Market Committee at 2 p.m. EDT.
3. -- U.S. stocks on Tuesday fell and markets remained on edge as investors wondered whether the Fed is still intent on raising interest rates this year. 6. -- Volkswagen (VLKAF) posted a third-quarter loss of 1.67 billion euros ($1.83 billion) as the automaker set aside 6.7 billion euros to pay for recalling and fixing cars that were rigged to evade U.S. diesel emissions tests. 7. -- Walgreens Boots Alliance (WBA) - Get Walgreens Boots Alliance Inc. Report said Tuesday it would acquire smaller rival Rite Aid (RAD) - Get Rite Aid Corporation Report for $9 per share in cash, for a total enterprise value of about $17.2 billion, including acquired net debt. Must Read: 4 Oil and Gas Stocks Fueling Up for Big Breakouts9. -- Northrop Grumman (NOC) - Get Northrop Grumman Corporation Report , the maker of the B-2 stealth bomber, won an $80 billion contract from the Air Force to build its next-generation bomber, a highly classified project designed to replace the aging bomber fleet with an information-age aircraft that eventually may be capable of flying without a pilot aboard, The Associated Press reported
Expectations that the central bank will raise rates this year have diminished amid concern about a slower-than-expected U.S. economic recovery.
The S&P 500 closed down 0.26% on Tuesday, the Dow Jones Industrial Average fell 0.23%, and the Nasdaq slid 0.09%.
Analysts expected the tech giant to report profit of $1.88 a share.
Revenue in the quarter jumped 22% to $51.5 billion and beat forecasts. The company sold 48.04 million iPhones during the quarter, only two days of which included sales of the new iPhone 6S and 6S Plus. iPhone sales rose 22% from a year earlier.
Apple suggested it expects iPhone sales in the current quarter, ending in December, to slightly surpass last year's record for selling 74.5 million iPhones during the holiday season.
5. -- Twitter (TWTR) - Get Twitter Inc. Report released a disappointing sales outlook, saying it expects fourth-quarter revenue in the range of $695 million to $710 million. Analysts were expecting sales of $741 million.
The social network ended the third quarter with a core audience of 307 million active users, an increase of just 3 million from June.
Revenue rose 58% from last year to $569 million and Twitter posted third-quarter earnings of 10 cents a share, above analysts' estimates of 5 cents.
The loss was Volkswagen's first in at least 15 years.
The company warned Wednesday that operating profit would be "down significantly" as a result of the scandal. But it stayed with its prediction that unit sales would be on a level with last year's record 10.14 million.
The purchase price represents a premium of 48% to Rite Aid's closing price on Oct. 26, the day before the agreement was signed.
The combination creates a drugstore giantwith nearly 18,000 stores around the world.
8. -- IBM (IBM) - Get International Business Machines Corporation Report is nearing a deal to acquire the digital and data assets of Weather Co., owner of theWeather Channel, The Wall Street Journal reported, citing people familiar with the situation.
The deal, which would be valued at more than $2 billion, could be announced as early as Wednesday, one of the people told the newspaper.
The deal doesn't include the traditional TV channel business but does include such digital businesses as the Web site and app, intellectual property, infrastructure and data.
IBM is particularly interested in Weather Co.'s forecasting group, WSI. That division houses technology and weather data that the Weather Co. collects, manipulates and licenses to companies ranging from airlines to utility companies to insurance providers, the Journal noted.
10. -- Earnings areexpected Wednesday from PayPal (PYPL) - Get PayPal Holdings Inc. Report , Fiat Chrysler (FCAU) - Get Stellantis N.V. Report , GoPro (GPRO) - Get GoPro Inc. Report , Amgen (AMGN) - Get Amgen Inc. Report , General Dynamics (GD) - Get General Dynamics Corporation Report and Hershey (HSY) - Get The Hershey Company Report .