Actavis (ACT) has agreed to buy Forest Laboratories(FRX) for $25 billion in a deal announced Tuesday. Share prices surged in premarket trading.
Coca-Cola(KO) is set to report quarterly results before the opening bell. Shares edged up before the release. The beverage company's global footprint makes it a good barometer for consumer spending around the world, including emerging markets.
Meanwhile Herbalife(HLF) is slated to report results after the market close.
In global markets, European indexes were mostly dipping lower in morning trading, though the declines were muted.
Asian markets had a dramatic day. The Nikkei in Japan added 3.1% after Japan's central bank doubled the size of two programs designed to encourage bank lending. The Bank of Japan decided not to increase the size of its asset purchase program despite a disappointing GDP report on Monday.