7 Stocks you need to know for Wednesday

International Business Machines (IBM | news | PowerRating | PR Charts ) approved a $15 billion stock buyback and raised its 2008 earnings outlook.

AFP reported that the EU will announce a heavy fine against Microsoft (MSFT | news | PowerRating | PR Charts ) on Wednesday.

CV Therapeutics (CVTX | news | PowerRating | PR Charts ), the biopharmaceutical company, missed earnings estimates by -$0.06, reporting a loss of -$0.57.

Covanta Holding Corp. (CVA | news | PowerRating | PR Charts ) beat Q4 2007 earnings estimates by $0.22.

Nortel Networks (NT | news | PowerRating | PR Charts ), the networking solutions supplier, is expected to report Q4 2007 earnings of $0.47, before the market open.

Also before the open, luxury home builder, Toll Brothers (TOL | news | PowerRating | PR Charts ), is expected to report a Q1 2008 loss of -$0.44.

Google (GOOG | news | PowerRating | PR Charts ) lost more than 4% after it was reported the number of people clicking its search ads declined in January.