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Facebook earnings poised to blow past estimates

Stocks shake off a big Apple drop as the Fed paves the way for a rate hike. And Facebook earnings are almost here. Catch The Final Round at 4 p.m. ET with Jen Rogers and Yahoo Finance editor-in-chief Andy Serwer.

Facebook earnings

The social media giant is expected to report numbers that blow past estimates. We break down the numbers live.

Reading the Fed tea leaves

Joining The Final Round for more on the Fed's latest move is Pedro da Costa, editorial fellow at the Peterson Institute for International Economics and contributor to Foreign Policy magazine.

Winners and losers

Stocks getting hit today include Twitter on weak revenue and guidance; fast-casual chain Chipotle on concerns over slipping revenue, and Buffalo Wild Wings getting fried after the wing chain missed on earnings and revenue and fallen same-store sales at franchise restaurants.

Stocks on the swing higher today include medical devicemaker Boston Scientific jumping on boosted yearly guidance, auction site Ebay as it reported its first jump in sales in five quarters, and DreamWorks Animation. The studio behind Kung Fu Panda and Madagascar is surging on reports that it is in talks to be acquired by Comcast for more than $3 billion. A potential deal would place Dreamworks under the Universal Pictures division.

Looking ahead

  • And right after the Fed announced its policy statement, we'll get crucial first quarter GDP data tomorrow morning. Economists are expecting a growth rate of around 0.7%.
  • We'll get more big earnings reports from the likes of Altria, Ford, UPS, Colgate Palmolive, and  Amazon, which we will have live after the bell.
  • Finally - the nation's top collegiate football players have been waiting for this event all their lives. The 81st annual NFL Draft kicks off tomorrow night with round one selections. The LA Rams hold the top spot after making a blockbuster trade with Tennessee, followed by the Philadelphia Eagles. Note the New England Patriots lost their first round pick this year as punishment for the 'Deflategate' scandal.