NEW YORK (CNN/Money) -
Investors will seek to keep the momentum going one day after the policy-setting Federal Open Market Committee increased the benchmark federal funds rate by a quarter percentage point to 1.75 percent.
The major U.S. indexes closed slightly higher after the Fed said the economy was regaining some momentum and raised interest rates for the third time this year.
No economic reports are scheduled for release Wednesday, but readings due later in the week include leading economic indicators, durable goods orders, and existing home sales.
On the earnings front, top investment banks Bear Stearns and Morgan Stanley are scheduled to announce their earnings before the opening. Shipping giant FedEx will also disclose results for its latest quarter.
Following Tuesday's close, the Disney Co. (DIS: Research, Estimates) board of directors said it plans to find a chief executive to succeed Michael Eisner by next June and would consider both outside executives and Disney Chief Operating Officer Bob Iger for the position.
In a statement issued after a regular meeting, Disney's board expressed its "strong support" for Eisner, who has announced he will step down when his current contract ends in 2006.
In other management reshuffle news, J.P. Morgan Chase (JPM: Research, Estimates) said its investment bank chairman David Coulter will become the chairman of its West Coast operations, and Chief Financial Officer Dina Dublon will resign, both at year-end.
The investment bank said Dublon, one of the most powerful women on Wall Street, will stay on until year-end.
In after-hours trading, shares of Jabil Circuit (JBL: Research, Estimates) rose more than 6 percent after the contract manufacturer reported a higher quarterly profit.
The stock rose to $23.66 on the INET electronic brokerage from its New York Stock Exchange close of $22.15.
Elsewhere, Scholastic Corp. (SCHL: Research, Estimates) reported a wider quarterly loss as revenue fell from a year earlier when it recorded strong sales from the most recent installment in the "Harry Potter" book series.
The children's book publisher said it had a net loss of $50.3 million, or $1.27 a share, in its fiscal first quarter ended Aug. 31, compared with a loss of $24.8 million, or 63 cents a share, in the year-earlier period.
Priceline.Com also made an announcement after the close. The online travel site said it had acquired U.K. Active Hotels Inc. for about $161 million in cash and that it would increase its fourth-quarter profit.
Priceline said Active Hotels, which provides Internet hotel reservation services in Europe, would continue to be managed as an independent business under its current management team.
Shares of Priceline (PCLN: Research, Estimates) rose about 3 percent on the news in after-hours trading.
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