NEW YORK (
) -- Stock futures in the U.S. were mixed, but
looks to open higher following a blowout quarter from iPhone maker
and ahead of an announcement on rates from the
The Fed's open market committee is scheduled to announce the results of its first two-day meeting Wednesday afternoon. It's likely the central bank won't make a move on interest rates, but some economists think a
European shares were slipping while Asian stocks posted solid gains. The Nikkei 225 index in Tokyo rose 1.1% to close at 8,883.69.
In the U.S. on Tuesday,
as tepid corporate earnings failed to impress, and an impasse between Greece and private investors in debt talks increased fears of a default.
Dow Jones Industrial Average
ended 33.1 points lower, or 0.3%, at 12,676. The
dropped 1.4 points, or 0.1%, to 1,315, and the Nasdaq rose 2.5 points, or 0.1%, to finish at 2,787.
In addition to the Fed's announcement, the economic calendar Wednesday includes the Mortage Bankers Association weekly index of application activity, pending home sales for December, and the Federal Housing Finance Agency housing price index for November.
scorched Wall Street estimates, and revenue soared to more than $46 billion in the fiscal first quarter as sales of the iPhone, iPad, and Macs were extremely strong in the holiday period.
of $13.06 billion, or $13.87 a share, on revenue of $46.33 billion for the quarter ended Dec. 31. Analysts polled by Thomson Reuters expected a profit of $10.15 a share on revenue of just more than $39 billion.
, the Swiss drugmaker, plans to offer $5.7 billion in cash to buy
, the U.S. DNA company.
Roche said it would offer to buy Illumina for $44.50 a share in cash, an 18% premium to Illumina's closing price of $37.68 on Tuesday.
Roche said it's making the hostile bid after it tried to negotiate a deal with Illumina but the U.S. company declined to participate.
Illumina urged shareholders not to take any action on Roche's offer until the board makes a recommendation. Illumina said its board will review the offer.
President Barack Obama, in the last
of his term and the last before the November election, on Tuesday outlined his plan for keeping the economy's recovery on track, emphasizing the importance of the U.S. manufacturing industry and detailing changes to the tax code to encourage corporations to expand in America.
The president proposed to end tax deductions for outsourcing jobs overseas, and said every multinational company "should have to pay a basic minimum tax," referring to tactics used by many big corporations to shelter their profits overseas.
, two components of the
, are expected to release fourth-quarter earnings before the opening bell Wednesday.
-- Written by Joseph Woelfel
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