(For more market insights, including options activity, click on STXNEWS/US; for the Day Ahead newsletter http://link.reuters.com/mex49s; ; for the Morning News Call newsletter, http://link.reuters.com/nex49s) Wall Street was set to open lower on Wednesday as investors shifted their focus from the Turkish central bank's bold interest-rate hike to the U.S. Federal Reserve's impending decision later in the day on its monthly bond-buying program. Dow Jones industrial average futures were down 0.75 percent at 15,757, S&P 500 futures were down 0.96 percent at 1,771.1 and Nasdaq 100 futures were down 0.99 percent at 3,466.25.
The planemaker forecast 2014 results below analysts' average estimates as it expects margin to fall in both its major segments.
** DOW CHEMICAL CO, Tuesday close $43.06, +5.09 pct premarket
The profit and largest U.S. chemical maker by sales reported a better-than-expected quarterly tripled its share buyback program to $4.5 billion, joining rival DuPont in increasing shareholder returns amid investor activism.
Vringo said a U.S. court ordered post-judgment royalty rate of 6.5 percent against the internet search giant for continued and willful patent infringement.
The U.S. refiner said its fourth-quarter profit rose, helped by stronger results in its transportation and processing and chemicals businesses.
The company reported a higher quarterly profit as rising ticket prices bolstered revenue. The New York-based carrier cited "strong" revenue trends for the current period but added flight cancellations this month in wake of unfavorable weather in the U.S. Northeast would hurt first quarter results.
** TUPPERWARE BRANDS CORP, Tuesday close $83.77, -6.89 pct premarket
The kitchen storage container maker forecast a weaker-than-expected profit for 2014 after its fourth-quarter results missed market estimates due to a 5 percent fall in sales in its established markets such as Germany, Canada and the United States.
The company said it would present preliminary findings from a mid-stage study of its drug to treat castration resistant prostate cancer at a medical meeting in San Francisco on Thursday.
The drugmaker said it expects to report fourth-quarter revenue of about $31.9-$32.4 million, beating market estimates, helped by strong growth of its anti-inflammatory drug Rayos and arthritis drug Duexis.
Analysts had expected fourth-quarter revenue of $27.4 million, according to Thomson Reuters I/B/E/S.
** FREESCALE SEMICONDUCTOR LTD, Tuesday close $15.3, +13.07 pct premarket
The company, which makes chips for cars and machinery, on Tuesday forecast current-quarter revenue above analysts estimates.
Topeka Capital Markets analyst Suji De Silva expects continued growth in Freescale's microcontrollers business, multicore network processors and further deployment in the China wireless infrastructure market. De Silva raised his price target on the company's stock to to $23 from $19.
Needham & Co LLC raised the stock's rating to "strong buy" from "buy," and raised the price target to $25 from $20.
The telecom company's fourth-quarter wireless subscriber growth and its free cash flow target lagged well behind analyst estimates. Chief Executive Randall Stephenson said a U.S. spying scandal was hurting the company's business.
At least one brokerage cut its rating on the stock.
** VODAFONE GROUP PLC, Tuesday close $37.17, -1.24 pct premarket
Shareholders of both Vodafone and Verizon (NYSE: VZ - news) approved Verizon's $130 billion takeover of their Verizon Wireless venture on Tuesday, paving the way for the third-biggest deal in corporate history.
The company's online ad prices slid again in the fourth quarter and Alibaba, the Chinese e-commerce giant in which it owns a big stake, saw revenue growth decelerate from its recent rip-roaring pace. Overall revenue fell 6 percent in the last three months of the year, the company said.
At least two brokerages cut their price targets on the stock.
** SOTHEBY'S, Tuesday close $48.88, +4.09 pct premarket
The auction house will pay investors a special dividend and buy back shares, months after activist investor Daniel Loeb called for a management shakeup.
The company's drug for advanced prostate cancer significantly delayed progression of the disease and extended survival in a large, late stage study of patients who had not yet received chemotherapy, likely paving the way for an expanded approval of the medicine.
The videogame publisher raised its full-year earnings forecast for the year, driven by strong cost control measures. It now sees non-GAAP income of $1.30 per share, compared with its previous forecast of $1.22.
At least two brokerages raised their price targets on the stock.
** HESS CORP, Tuesday close $76.8, -1.30 pct premarket
The company reported a quarterly profit well below Wall Street expectations as oil and natural gas production lagged due to instability in Libya and maintenance in the U.S. Gulf of Mexico.
The industrial automation company lifted the lower end of its 2014 forecast after reporting a 23 percent jump in first-quarter profit due to sales increases in Europe, Asia Pacific and the United States.
** EMC CORP, Tuesday close $25.38, -0.91 pct premarket
The world's largest data storage equipment maker, forecast current-quarter results below analysts' estimates.
The company said its new, high-profile oral multiple sclerosis drug Tecfidera had sales of $398 million in the fourth quarter, easily exceeding estimates for a third successive quarter and keeping it on track to top $1 billion in its first year on the market.
The largest industrial gas supplier in the Americas raised its dividend by 8 percent and set another $1.5 billion share buyback plan, after its quarterly profit rose due to strong sales and acquisitions.
the second-largest U.S. health insurer reported a lower quarterly profit as it took a charge for the sale of its contact lens business and consumers increased their use of medical services as they faced the loss of health plans at the end of 2013.
** CANADIAN PACIFIC RAILWAY, Tuesday close $141.86, +0.10 pct premarket
Canada's second largest railway reported a five-fold jump in fourth-quarter profit, as freight revenue rose 7 percent.
** MARATHON PETROLEUM CORP, Tuesday close $83.17, +0.59 pct premarket
The third-largest stand-alone U.S. refining company posted a 17 percent drop in quarterly profit on Wednesday due to shrinking crude discounts and rising maintenance costs.
** OMEROS CORP, Tuesday close $11.23, +9.26 pct premarket
The company said data from a mid-stage study of its cognitive disorder drug showed that the drug's tolerability was not affected when used in combination with antipsychotic medicines. Omeros (Frankfurt: 3O8.F - news) said the drug could be developed as a single therapy or be tested along with other antipsychotic medicines in further studies on schizophrenia patients.
The air ambulance service provider estimated fourth-quarter earnings below analysts' expectations and said it would incur $2.4 million in pretax charges during. The company also said patient transports in the quarter decreased compared with the prior year.
The company reported fourth-quarter results above analysts' estimates, helped by higher-than-expected international sales of its neurology and newborn care products. Natus also raised its 2014 adjusted earnings forecast to the range of $1.14-$1.18 per share from the $1.12-$1.16 it earlier expected.
The pawn and payday lender reported a stronger-than-expected first-quarter profit helped by higher merchandise sales in the United States and Canada. Merchandise sales rose 12 percent to $105.6 million for the quarter ended Dec. 31.
The virtualization software maker reported a slightly better-than-expected quarterly profit helped by higher revenue from license sales.
At least four brokerages raised their price targets on the stock.
The computer security specialist topped fourth-quarter profit and revenue forecasts and said it sees growth continuing into 2014 on strong demand for high-end products that protect data centers.
The world's biggest biotechnology company on Tuesday reported a quarterly profit that beat Wall Street forecasts as it gained full control of its blockbuster rheumatoid arthritis drug Enbrel and recorded solid growth in sales of newer products. The company also announced another positive result from a late-stage study of its high-profile experimental cholesterol drug, evolocumab.
At least four brokerages raised their price targets on the stock.
-6.59** QUALCOMM INC, Tuesday close $71.99, +0.00 pct premarket
The world's biggest cellphone chip maker may be hit with a record fine exceeding $1 billion in a Chinese antitrust probe, raising the specter of harsh penalties for foreign firms facing an increasingly aggressive regulator.
** TEVA PHARMACEUTICAL INDUSTRIES, Tuesday close $44.1, +2.27 pct premarket
Teva's shares open higher after the company said U.S. regulators approved its three-times-a-week multiple sclerosis drug Copaxone. The world's largest generics drugmaker has been banking on a three-times-a-week version of Copaxone ahead of possible competition from generic rivals of the drug this year. (Compiled by Natalie Grover in Bangalore; Editing by Joyjeet Das (Shenzhen: 002421.SZ - news) )