Dell Inc and Hewlett-Packard Co, the two biggest makers of personal computers, both declined. Bristol-Myers Squibb Co paced rising stocks after the drugmaker settled a patent lawsuit against Apotex Inc.
Nasdaq-100 Index futures fell 8 to 1682.5 in London. Eight of the 10 biggest Nasdaq 100 stocks are computer-related. Microsoft accounts for 6.9% of the measure. Standard & Poors 500 Index futures expiring in June rose 0.3 to 1307.1, while Dow Jones Industrial Average futures added 7 to 11,324.
Morgan Stanley, the No. 3 US securities firm by market value, is among S&P 500 companies reporting earnings on Wednesday. Nike Inc, the worlds largest athletic-shoe maker, slid as its orders of shoes and clothing fell short of some estimates.
Indexes fell the most in two weeks on Tuesday as a speech by Federal Reserve chairman Ben S Bernanke and a report on inflation suggested interest rates will keep climbing this year. The S&P 500 had closed at its highest in almost five years last week.
Microsoft fell 79 cents to $26.95 in Germany. Dell, the worlds biggest maker of personal computers, lost 20 cents to $30.07. Hewlett-Packard, the worlds No. 2 personal-computer maker, fell 35 cents to $33.19. Windows will be released in two stages, a shipment to businesses in November this year and a release to consumers in 2007, said James Allchin, co-president of the division in charge of the operating system.
Microsoft had planned to release the product by the holiday shopping season. The Vista version of Windows, which runs 90% of the worlds personal computers, is already two years late.
Microsoft plans a management shake-up at its Windows group, the Wall Street Journal reported on Wednesday, citing people familiar with the situation.
The setback could hurt December 2006 sales and earnings estimates by as much as 5%, analysts including Gene Munster at Piper Jaffray wrote in a note to investors.
Nike fell 28 cents to $84.67 in Germany. The company said global orders for delivery between March and July increased 2.9% to $5.4 billion. Goldman Sachs Group Inc analyst Margaret Mager had estimated orders would gain 3% to 5%. Revenue in Europe fell, hurt by a stronger US dollar and a slowdown in shoe and apparel sales. Bristol-Myers surged $2.99 to $25.07. The company and partner Sanofi-Aventis SA on Tuesday said they agreed to pay an unspecified amount to Apotex, a Canadian maker of generic drugs, when the settlement is completed.
Apotex can sell a generic version of the drug in September 2011, and then will pay royalties on the sales.