It appears that Manchester United is ready to loan out Federico Macheda, the likely destination being the Serie A. Federico Macheda set to follow Danny Welbeck's example with loan move | Football | guardian.co.uk

Danny Welbeck has clearly benefited from his loan to Sunderland, while getting consistent minutes. Sir Alex Ferguson no doubt hopes for the same benefit to Macheda. With Wayne Rooney, Dimitar Berbatov, and Javier "Chicharito" Hernandez, it has been difficult for Macheda to find playing time on the pitch. With the return of Michael Owen, competition for minutes has only increased. 

Also of interest from this linked report, it appears that Fergie is considering bringing back Tom Cleverley from his loan spell at Wigan. Cleverley if returned, would be able to provide some more depth into a currently depleted midfield.