1. Sowing the seeds
1. Sowing the seeds
China's state-owned chemical company ChemChina has offered a whopping $43 billion for the Syngenta (SYENF), a supplier of pesticides and seeds. The board of the Swiss company backed the offer, and shares in Syngenta are shooting up by about 6%. If completed, it will be the biggest foreign takeover by a Chinese company ever.
It follows the announcement late last year that Syngenta competitors Dow Chemical (DOW) and DuPont (DD) would merge in a complex deal worth $130 billion.
2. Moody markets
2. Moody markets
Negative sentiment seems to be lingering in global markets after U.S. stocks took a sharp drop on Tuesday.
But with crude oil futures edging back above $30 per barrel, the mood has lifted a shade.
U.S. stock futures are looking steady and European stock markets have trimmed early losses.
But the recovery came too late in the day for Asia. Most key Asian markets closed with significant losses Wednesday.
3. Market movers and earnings
3. Market movers and earnings
LVMH, Chipotle: The luxury company that makes Louis Vuitton and Fendi clothing -- LVMH (LVMUY) -- just posted annual sales and profits that beat market expectations. Shares in the company are rising by 7%.
Meanwhile, shares in Chipotle (CMG) are plunging in extended U.S. trading after the company revealed its profits tanked in the wake of an E. coli scare.
Another busy day for corporate results is coming.
Investors will hear from General Motors (GM), Comcast (CCV), Marathon Petroleum (MARA) and Merck (MKGAF) before the markets open. Food giant Mondelez International (MDLZ), which makes Oreo cookies and Ritz crackers, is also reporting before the opening bell.
GoPro (GPRO, Tech30), Metlife (MET) and Yum Brands (YUM) -- which owns Taco Bell, Pizza Hut and KFC -- will report this afternoon.
4. Economics and recap
4. Economics and recap
The Institute for Supply Management is releasing its latest index that measures activity in the services industry at 10 a.m. ET. The January ISM index follows directly after the release of disappointing manufacturing and services data from the eurozone, which was released by Markit earlier in the morning.
At 10:30 am, the federal government will post its weekly update on crude inventory levels.
Tuesday was a negative day to say the least.
The Dow Jones industrial average dropped 1.8%, the S&P 500 shed 1.9% and the Nasdaq plunged 2.2%.
