U.S. stock index futures pointed to a lower opening on Wall Street on Tuesday, following the previous session's sharp gains, with futures for the S&P 500 down 0.18 percent, Dow Jones futures down 0.26 percent and Nasdaq 100 futures down 0.38 percent at 0925 GMT (4:25 a.m. EST).

Hewlett-Packard Co said it has tripled the size of its share repurchase program to $12 billion as China sales and better profit margins on its services boosted quarterly earnings.

The fiscal fourth-quarter results released on Monday were in line with preliminary figures that HP gave two weeks ago, which had topped Wall Street's estimates at the time. HP shares traded in Frankfurt were up 0.9 percent.

Microchip maker Analog Devices Inc on Monday reported higher than expected quarterly sales and forecast higher profit margins and busier factories by the end of fiscal 2010.

Network equipment maker Brocade Communications Systems Inc on Monday reported a higher than expected quarterly profit, despite concerns about competition amid a series of mergers and acquisitions among rivals.

Shares in Japan Airlines Corp <9205.T> slid to a record low on Tuesday on growing investor worries that Asia's largest airline by revenue could face bankruptcy as it struggles to agree pension cuts.

The European Commission said on Tuesday it had closed formal anti-trust proceedings against U.S. chip maker Qualcomm as complaints against the firm had been dropped.

Oil slipped toward $77 a barrel on Tuesday, held down by a firmer dollar, but trade was thin ahead of the U.S. Thanksgiving holiday and data that was expected to show crude stocks rising in the United States.

The dollar rose as some investors bought the currency or closed dollar-short positions before Thanksgiving.

Hong Kong and China stocks sank on Tuesday, with Shanghai's SSE composite index <.SSEC> dropping 3.5 percent, dragged down by banks as investors took profit after a recent rally, while concerns about capital-raising plans by lenders sparked fears of shareholder dilution.

European stocks were down 0.7 in morning trade, led lower by banks, while miners such as Xstrata dropped along with metal prices.

The day's economic agenda includes the Commerce Department's preliminary (second) estimate of Q3 Gross Domestic Product (GDP) growth, due at 1330 GMT (8:30 a.m. EST). Investors will also keep an eye on monthly consumer sentiment data, due at 1500 GMT (10 a.m. EST).

On the earnings front, H.J. Heinz Co. , Medtronic and Hormel Foods Corp. are among the few companies due to report on Tuesday.

Kenneth Feinberg, the Obama administration's pay czar, is being pressed by federal officials to relax executive compensation restrictions at American International Group Inc for 2010, the Wall Street Journal reported, citing people familiar with the matter.

U.S. stocks snapped a three-day losing streak on Monday as stronger than expected home sales data fueled optimism while a weaker dollar boosted commodity-linked stocks.

The Dow Jones industrial average <.DJI> gained 132.79 points, or 1.29 percent, to end at 10,450.95. The Standard & Poor's 500 Index <.SPX> rose 14.86 points, or 1.36 percent, to 1,106.24. The Nasdaq Composite Index <.IXIC> added 29.97 points, or 1.40 percent, to close at 2,176.01.

(Reporting by Blaise Robinson; Editing by Greg Mahlich)

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