Stock Futures Pare Gains After Downbeat Retail Data

Tickers in this article: SPLS TYC ^DJI AMD ANF ^GSPC ^IXIC WSM CSCO PZZA

At 2 p.m., the minutes from the latest two-day Fed policy meeting, which ended Oct. 24, will be released.

The FTSE 100 in London was sliding 0.45%, while the DAX in Germany was off 0.20% on Wednesday. Japan's Nikkei average settled up 0.04% and Hong Kong's Hang Seng closed higher by 1.20%.

Gold for December delivery was off $1.80 to $1,723 an ounce at the Comex division of the New York Mercantile Exchange, while December crude oil contracts were up 21 cents at $85.59.

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The benchmark 10-year Treasury was down 6/32, lifting the yield to 1.618%. The dollar was down 0.05%, according to the U.S. dollar index.

In corporate news, Cisco(CSCO) , the networking giant and Dow component , topped Wall Street's expectations in its latest quarter on both the top and bottom lines.

Shares were jumping more than 7% in premarket trading.

Abercrombie & Fitch (ANF) shares were soaring more than 32% after the retailer posted much better-than-expected third-quarter earnings of 87 cents a share and lifted its full-year outlook to $2.85 to $3 a share, above Wall Street expectations of $2.48 a share amid robust U.S. sales growth and strengthening demand in overseas markets.

Analysts, on average, were expecting the company to post third-quarter earnings Wednesday of 59 cents a share.

AMD(AMD) denied Tuesday that it's on the block following a report that the No. 2 chipmaker could be be up for sale.

Shares were falling close to 2%.

Staples(SPLS) posted third-quarter revenue that missed forecasts, driven by tepid sales in Europe and Australia. The office supply chain's earnings per share came in above estimates at 46 cents on revenue of $6.35 billion; analysts expected earnings of 45 cents a share in the October-ended period on revenue of $6.45 billion.

Shares were gaining more than 4.5%.

Williams-Sonoma(WSM) is expected by analysts Wednesday to post third-quarter earnings of 45 cents a share on revenue of $921.8 million.

Tyco(TYC) shares were slumping 4.5% after the fire and safety equipment maker posted quarterly earnings per share that missed the consensus by 2 cents and revenue that was in line with estimates.

Papa John's (PZZA) is facing a $250 million class-action lawsuit relating to the pizza chain's alleged involvement with excessive text messaging.

-- Written by Andrea Tse in New York.

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