--Stock futures drop as weak data out of Europe, disappointing earnings reports weigh --Europe falls after euro-zone construction output contracts again and U.K. unemployment rises --Shares of Dow components Bank of America and Intel slip after reporting results NEW YORK--U.S. stock futures slumped as weak data out of Europe and disappointing earnings reports put the market on track to erase most of the previous session's bounce. About 90 minutes ahead of the open, Dow Jones Industrial Average futures dropped 91 points, or 0.6%, to 14594. On Tuesday, the Dow ran up 158 points, the biggest one-day gain since Feb. 27, after suffering the biggest loss in over five months on Monday. Standard & Poor's 500-stock index futures gave up 11 points, or 0.7%, to 1558 and Nasdaq 100 futures slid 20 points, or 0.7%, to 2808. Changes in stock futures don't always accurately predict stock moves after the opening bell. Scott Wren, senior equity strategist at Wells Fargo Advisors said investors may be focusing on the selloff seen in overseas markets, "but given the magnitude of the run off the November lows, people are starting to look for an excuse to take some money off the table." The S&P 500 has slipped 1.2% since closing at a record high on April 11, but was still up 16% from its November low. "Pullbacks are opportunities [to buy], in my book," Mr. Wren said. Shares of Bank of America slumped 3.3% in premarket trading. The banking giant reported first-quarter earnings that rose sharply from year-earlier levels, but missed analyst expectations, with losses widening in its consumer real-estate division. Among other Dow components reporting results, Intel lost 1.3%. The semiconductor maker reported first-quarter earnings that fell from year-earlier levels but matched analyst forecasts, according to FactSet, and provided a second-quarter revenue outlook that was in line with current projections. European markets traded broadly lower, with the Stoxx Europe 600 down 1.1% and headed for a fourth-straight loss, following more that the region's economy was slowing. February construction output in the euro zone fell 0.8% on the month, a fourth-straight decline, and the rate of January contraction was revised to 2.1% from 1.4%. In the U.K., the number of unemployed rose 70,000 in the three months to February, the highest increase in nearly 1 1/2 years. The unemployment increased to 7.9%, topping expectations of 7.8%. The U.K.'s FTSE 100 index shed 0.7%. At 2 p.m. EDT, the Federal Reserve's "beige book" report of economic conditions will be released. Gold prices pulled back, with front month April gold futures down 0.9% to $1,374.50 an ounce after running up 1.9% on Monday. Investors remained on edge, following gold's biggest daily drop since the early 1980s. The futures were down 7.8%, or $1501.00, this week. May crude-oil futures fell 0.7% to $88.10 a barrel. The dollar edged higher against the euro and the yen. Asian markets were mixed, although Japanese stocks rebounding on the back of a weakening yen. Japan's Nikkei Stock Average gained 1.2% after falling 2.4% the previous three sessions. China's Shanghai Composite slipped 0.1%. In other corporate news, Yahoo shed 1.8% after the Web portal reported first-quarter earnings that beat estimates, but revenue that fell short of forecasts amid a sharp year-over-year decline in display ad revenue. Write to Tomi Kilgore at tomi.kilgore@dowjones.com HOT STOCKS TO WATCH Among the companies with shares expected to actively trade in Wednesday's session are E2open Inc. (>> E2open Inc), InnerWorkings Inc. (>> InnerWorkings, Inc.) and Yahoo Inc. (>> Yahoo! Inc.). E2open swung to a loss for the fiscal fourth-quarter as the cloud-based business software provider's increase in expenses outpaced slight revenue growth. Shares tumbled 26% to $13.70 after hours as the company offered guidance for the first-quarter and full-year below analyst expectations. InnerWorkings, which provides print procurement services, cut its full-year expectations, citing a significant reduction in scope of work at a large retail client and also projected first-quarter results below analyst expectations. Shares slumped 20% to $11.20 after hours. Yahoo posted a 36% jump in profit for its first quarter on the robust performance of China-based e-commerce giant Alibaba Group Holding Ltd., in which Yahoo holds a 24% stake. But quarterly revenue fell 7% from a year ago as Yahoo's core online-advertising business deteriorated while its biggest clients--advertising agencies--have become more vocal about their impatience with Chief Executive Marissa Mayer's management. Shares were down 4.2% to $22.80 after hours. Badger Meter Inc.'s (>> Badger Meter, Inc.) first-quarter profit fell 53% as bad weather hurt sales for the manufacturer of fluids measurement and control products. Shares dropped 8.1% to $48.10 after hours, as results sharply missed analysts' estimates. Boston Private Financial Holdings Inc. (>> Boston Private Financial Hldg Inc) has agreed to repurchase all of the shares of its preferred stock held by its largest shareholder, Carlyle Group LP (>> Carlyle Group LP), a deal that the financial-services company said will benefit all shareholders. Shares rose 14% to $10.90 in after-hours trading as Boston Private also reported that its first-quarter earnings rose 39% and its assets under management grew. Cirrus Logic Inc. (>> Cirrus Logic, Inc.), a supplier for Apple Inc. (>> Apple Inc.), said it expects to record a significant inventory reserve charge in the fourth quarter and that its margins for the period will be weaker than expected. The chip maker's shares sank 11% to $19.09 after hours as the company also offered downbeat first-quarter revenue guidance. Watch List: Amgen Inc. (>> Amgen, Inc.) will pay $24.9 million to settle allegations that it paid kickbacks to long-term care pharmacy providers in exchange for switching Medicare and Medicaid patients to its anti-anemia drug Aranesp, the Justice Department said. Atlas Pipeline Partners LP (>> Atlas Pipeline Partners, L.P.) has agreed to acquire Teak Midstream LLC for $1 billion in cash, giving the company an entry point into the liquids-rich Eagle Ford Shale in south Texas. BioScrip Inc. (>> BioScrip Inc) said it is offering $75 million in shares, while affiliates of its largest shareholders are offering $25 million in shares. BioScrip, a pharmaceutical services provider, won't receive any proceeds from the shareholders' sale. CSX Corp.'s (>> CSX Corporation) first-quarter earnings rose 2.2% as the railroad company reduced its expenses amid roughly flat revenue. Intel Corp.'s (>> Intel Corporation) bottom line continued to suffer from the sagging personal computer market in the first quarter, but the numbers and the company's outlook for the current period were less gloomy than some analysts feared. The chip maker's profit dropped 25% on a 2.5% decline in revenue, reflecting declining sales of both desktop and laptop computers that use Intel microprocessors. Interactive Brokers Group Inc.'s (>> Interactive Brokers Group, Inc.) first-quarter earnings fell 40% as the electronic broker and market maker reported that currency fluctuations led to a segment loss in its market-making division and continued low volatility also weighed on performance. Adjusted earnings and revenue missed expectations. Chinese solar company LDK Solar Co. (>> LDK Solar Co., Ltd (ADR)) has agreed to sell its interest in an Anhui-province based subsidiary to an affiliate of the Hefei city government for around 120 million Chinese yuan, or $19.4 million. The company expects to realize a net loss of $80 million to $90 million for the transaction. Computer-mouse maker Logitech International S.A. (LOGI, LOGN.EB) said its finance chief, Erik K. Bardman, is leaving the company to join TV set-top vendor Roku. Navistar International Corp. (>> Navistar International Corp) has named Jack Allen its chief operating officer, after his predecessor in the role was tapped as chief executive. Performant Financial Corp. (>> Performant Financial Corp) said certain stockholders will offer 6.5 million shares. Performant won't receive any proceeds from the offering. Performant Financial, which provides debt recovery and analytics services, recently had around 46.7 million shares outstanding. Moody's Investors Service raised its outlook on Sears Holdings Corp. (>> Sears Holdings Corp), citing improvements to the retailer's bottom line. United Rentals Inc.'s (>> United Rentals, Inc.) first-quarter earnings climbed 62% as the equipment-rental company's revenue continued to strengthen.

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