Here are 10 things you should know for Wednesday, Oct. 21:
1. -- U.S. stock futures were higher Wednesday and shares in Japan rose amid hopes for fresh stimulus from the Bank of Japan.
European stocks moved higher, reversing initial losses triggered by some disappointing earnings bulletins.
In Tokyo, stocks rose 1.9% in anticipation of monetary easing by the Bank of Japan following weak data on September imports and exports.
2. -- The economic calendar in the U.S. on Wednesday includes crude inventories for the week ended Oct. 17, at 10:30 a.m. EDT.
The S&P 500 closed off 0.12%, the Dow Jones Industrial Average fell 0.1%, and the Nasdaq dropped 0.5%.
KLA-Tencor stockholderswill be entitled to elect to receive $32 in cash and 0.5 of a share of Lam Research common stock, in all-cash, all-stock, or mixed consideration, the companies said Wednesday.
The transaction values KLA-Tencor at about $67.02 a share. KLA-Tencor closes Tuesday at $53.86.
"The pairing of Lam Research and KLA-Tencor brings industry leadership in process and process control together, accelerating our capability to address our customers' most difficult challenges as they scale to meet the market demands of lower power, higher performance, and smaller form factors," said Martin Anstice, Lam's president and CEO, in a press release.
The transaction is expected to close in mid-2016.
5. -- The European Union demanded that Starbucks (SBUX - Get Report) and Fiat Chrysler (FCAU - Get Report) repay up to 30 million euros ($34 million) each in tax breaks they received from EU nations, in a major ruling to cut down on sweet tax deals global multinationals often shop for.
EU antitrust Commissioner Margrethe Vestager said Wednesday that "all companies, big or small, multinational or not, should pay their fair share of tax."
The European Commission polices state aid and antitrust laws and has been tightening loopholes in EU legislation that have allowed individual EU countries to attract multinationals with advantageous tax deals, The Associated Press reported.
Vestager said the Netherlands will have to recoup the unpaid taxes from Starbucks and Luxembourg from Fiat.
Starbucks said in an immediate reaction that it plans "to appeal since we followed the Dutch and OECD rules," referring to the Organization for Economic Co-operation and Development group of developed economies.
6. -- Yahoo! (YHOO) reached a three-year deal to work with Google (GOOGL - Get Report) in Internet search and advertising. The agreement was unveiled Tuesday after Yahoo! released disappointing third-quarter earnings.
Revenue at Yahoo!, after paying ad commissions, fell 8% from a year earlier to $1 billion.
It marked the ninth time in the past 11 quarters that Yahoo!'s net revenue has declined or remained unchanged from the previous year.
Third-quarter earningsof 15 cents a share fell short of analysts' forecasts of 17 cents.
7. -- Ferrari's initial public offering was priced at $52 a share, valuing the maker of luxury sports cars and Formula One race cars at almost $10 billion.
Parent company Fiat Chrysler will float almost a tenth of the company's shares on Wall Street on Wednesday under the stock symbol 'RACE.'8. -- Chipotle Mexican Grill (CMG - Get Report) reported third-quarter earnings of $4.59 a share, falling shy of Wall Street's forecast of $4.62.
Same-restaurant sales rose 2.6% for the third quarter, relatively in line with estimates calling for a 2.5% increase. The sales performance marked a considerable slowdown from a 19.8% gain a year earlier.
Higher labor and marketing costs and cooling sales led to a 50-basis point year-over-year decline in profit margins.
The bank reported net income attributable to shareholders dropped to 779 million Swiss francs ($815 million), from 1.025 billion francs a year earlier. Revenue declined 8% to 5.98 billion francs.
Credit Suisse also announced plans to issue new shares in moves expected to bring in more than 6 billion francs.
10. -- Earnings are expected Wednesday from Boeing (BA - Get Report) , Coca-Cola (KO - Get Report) , General Motors (GM - Get Report) , eBay (EBAY - Get Report) , American Express (AXP - Get Report) , Biogen (BIIB - Get Report) , EMC (EMC) and Texas Instruments (TXN - Get Report) ,