2. -- The economic calendar in the U.S. Wednesday includes a rates decision from the Federal Reserve, the ADP Employment Change index for April at 8:15 a.m. EDT, the ISM Index for April at 10 a.m., and construction spending for March at 10 a.m.
3. -- U.S. stocks on Tuesday rose after a Conference Board report showed a strengthening in consumer confidence offset indications of business weakness in the Midwest. The S&P 500 added 0.25% to 1,597.54, an all-time closing high. The index rose 1.81% in April.
4. -- Facebook ( FB), the social media giant, is expected by analysts on Wednesday to report after markets close first-quarter earnings of 13 cents a share on revenue of $1.44 billion. The focus for investors in Facebook's report will be mobile advertising growth as the company transitions to advertising on handsets and tablets. TheStreet will be live-blogging Facebook's earnings beginning at 3:45 p.m. EDT.
5. -- Apple ( AAPL) sold $17 billion worth of corporate debt in the largest corporate non-financial bond offering in history, according to data from Bloomberg. In the six-part offering, Apple sold debt with maturities starting in 2016 and ending in 2043, according to a regulatory filing. As part of the offering, the iPhone maker will be selling $5.5 billion worth of 10-year fixed debt, which will start trading at 75 basis points above comparable U.S. Treasury debt. Currently, the yield on a 10-year U.S. Treasury is 1.675%. Apple will also sell $1 billion worth of three-year fixed rate notes, which will start trading at 5 basis points over the 3-month LIBOR rate. Apple announced the debt offering as part of its massive capital return to shareholders when it reported earnings earlier this month.
6. -- Yahoo! ( YHOO) scrapped a deal to buy a 75% stake in online video Web site Dailymotion because of objections by the French government, reports said. An acquisition of Dailymotion -- the deal was valued at $300 million -- would have been the biggest deal in the 10-month tenure of Yahoo! CEO Marissa Mayer, Reuters said.
7. -- A private-equity group made up of Bain Capital and Golden Gate Capital has emerged as the lead contender to buy BMC Software ( BMC) for more than $6.5 billion, three people familiar with the matter told Reuters.
8. -- Merck ( MRK) posted first-quarter net income of $1.59 billion, or 52 cents a share, down from $1.74 billion, or 56 cents a share, a year earlier. Adjusted earnings in the quarter were 85 cents a share. Revenue fell 9% to $10.67 billion from $11.73 billion a year earlier. Analysts were expecting earnings of 80 cents a share on revenue of $11.09 billion.