Updated from 8:32 a.m. EDT(At 4:03 p.m. EDT)
Intel shares were down 4.3% in the premarket session. CSX Corp. ( CSX) was also out with earnings after the closing bell Tuesday. The railway operator recorded a first-quarter profit of 62 cents a share, compared with the Thomson Reuters average estimate of 51 cents a share. Revenue was down 17% from a year ago to $2.2 billion, coming in slightly below the consensus estimate of $2.26 billion. CSX shares were up nearly 7% in the premarket session. Before Wednesday's opening, both Abbott Labs ( ABT) and Infosys ( INFY) beat earnings forecasts with their latest reports, but both also fell short of revenue targets. And while Abbott Labs offered second-quarter guidance that was in-line with expectations, Infosys delivered downside guidance for its fiscal first quarter. Abbott was losing 3.6% in the premarket session, and Infosys was down 6.1%.
Among the other economic reports to be posted Wednesday, the New York Fed will release its Empire Manufacturing index for April at 8:30 a.m. EDT, followed by the Fed's report on industrial production and capacity utilization for March at 9:15 a.m. EDT. Later in the day, the Fed will post its beige book survey, which shows economic activity across its 12 districts. In addition, weekly crude inventory numbers will be posted at 10:30 a.m. EDT.