The company's launch event comes amid a batch of other tablet releases ahead of the holiday season. Most recently, Apple took the wraps off its iPad Mini earlier this week. Meanwhile, Amazon.com and Barnes & Noble are expected to unveil larger versions of their tablets next month. Amazon is also expected to post earnings after the closing bell.
Among earnings, Procter & Gamble gained after the consumer goods company posted results that were largely in line with expectations, but net income was hurt by a stronger dollar.
ConocoPhillips also rose even after the energy company posted a decline in profit, hurt by a price drop in crude oil and natural gas.
And Sprint Nextel posted a wider-than-expected loss as the telecom company spent heavily on a network upgrade.
Zynga surged after the social games services provider broke even on bookings of $256 million, both matching expectations. In addition, the firm announced a share repurchase program of $200 million. Needham upgraded the stock to "buy" from "hold."
Meanwhile, Facebook pulled back after surging nearly 20 percent in the previous session. S&P Capital IQ cut its rating on the social-networking giant to "hold" from "buy."
Best Buy slumped after the consumer-electronics retailer announced two of its executives will be leaving the company and added that it expects third-quarter earnings "significantly below" year-ago levels. At least three brokerages cut their price target on the stock.
Other companies scheduled to post earnings after the closing bell include Expedia and Coinstar .
On the economic front, weekly jobless claims fell to a seasonally adjusted 369,000, according to the Labor Department. Economists surveyed by Reuters expected a reading of 365,000. And durable orders jumped in September, according to the Commerce Department, topping expectations.
Meanwhile, pending home sales edged up a mere 0.3 percent in September from the previous month, according to the National Association of Realtors, disappointing analysts who had expected a gain of 2.1 percent.
Homebuilders including KBHome, Toll Brothers and Pulte reversed their early gains to trade lower.
European shares eked out a gain, hanks to a better-than-expected GDP report from the U.K.
Treasury prices held losses after the government auctioned $29 billion in 7-year notes at a high yield of 1.267 percent and the bid-to-cover ratio was 2.56.
—By CNBC's JeeYeon Park (Follow JeeYeon on Twitter: @JeeYeonParkCNBC)
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