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Updated from 5:58 a.m. EST

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Here are five things you must know for Wednesday, Feb. 15:

1. -- U.S. stock futures traded mixed Wednesday after Wall Street smashed records again on Tuesday, closing at all-time highs for the fourth session in a row.

Stocks swung between gains and losses for a good part of Tuesday's session but gained momentum following testimony to the Senate Banking Committee from Federal Reserve Chair Janet Yellen.

Yellen reiterated Tuesday that interest rate hikes would be gradual but pointed out that it would be "unwise" to wait too long to hike again. Yellen also pointed to a number of uncertainties, including changes in U.S. policy and productivity growth, that could alter the Fed's timeline. Yellen said "incoming data" backs up that inflation is trending toward 2% and the job market is retaining its soundness.

Futures indicated that markets expect a 43% chance of at least three rate increases this year, according to CME Group. The chances of at least three moves in 2017 sat at 33% on Monday.

Yellen will deliver testimony to Congress again on Wednesday, at 10 a.m. EST, but this time before the House Financial Services Committee.

The economic calendar in the U.S. on Wednesday includes the Consumer Price Index for January at 8:30 a.m. EST, Retail Sales for January at 8:30 a.m., the Empire State Manufacturing Survey for February at 8:30 a.m., Industrial Production for January at 9:15 a.m., the NAHB Housing Market Index for February at 10 a.m., and Crude Inventories for the week ended Feb. 11, at 10:30 a.m.

Boston Federal Reserve Bank President Eric Rosengren will give the keynote speech at New York Association Economics Luncheon at the Harvard Club in New York at 12 p.m.

European stocks rose on Wednesday, following buoyant trading in Asia, as investors continued to digest the somewhat hawkish remarks fro the Federal Reserve chair.

2. -- Warren Buffett increased his stake in Apple (AAPL) - Get Apple Inc. Reportin a big way during the fourth quarter. 

Buffett's Berkshire Hathaway (BRK.A) - Get Berkshire Hathaway Inc. Class A Report  holding company reported owning 57.4 million shares of Apple as of Dec. 31, up from 15.2 million shares of the tech giant at the end of the third quarter. Berkshire Hathaway's stake is now worth about $7.74 billion.

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Apple shares closed Tuesday at a record for the second day in a row. The stock gained 1.3% to $135.02 on Tuesday and was rising another 0.4% in premarket trading on Wednesday.

Apple is aholding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer and the AAP team buys or sells AAPL? Learn more now.

Berkshire Hathaway also added to all of its airline investments. At the end of 2016, Berkshire held 45.5 million shares of American (AAL) - Get American Airlines Group, Inc. Report , 60 million shares of Delta (DAL) - Get Delta Air Lines, Inc. Report , 43.2 million shares of Southwest (LUV) - Get Southwest Airlines Co. Report and nearly 29 million shares of United Continental (UAL) - Get United Airlines Holdings, Inc. Report .

3. -- Shares of asset-management firm Fortress Investment Groupundefined were rising 28% in premarket trading to $7.90 after Japan's SoftBank (SFTBF)  announced a deal to buy the company for about $3.3 billion in cash.

"Fortress' excellent track record speaks for itself, and we look forward to benefiting from its leadership, broad-based expertise and world-class investment platform," SoftBank CEO and Chairman Masayoshi Son said in announcing the deal after the closing bell on Tuesday. 

Fortress Co-Chairmen Pete Briger and Wes Edens added in a statement that "we are very pleased to announce an agreement setting our business on a great path forward as part of SoftBank while creating significant value for our shareholders."

SoftBank is paying $8.08 a share -- a 38.6% premium to FIG's closing price from the day before the deal. 

4. -- Trian Partners, led by Nelson Peltz, has taken a stake amounting to 6.42 million shares in consumer products giant Procter & Gamble (PG) - Get Procter & Gamble Company Report , according to a new regulatory filing.

Trian reportedly will seek discussions with management. 

" We welcome the investment in P&G," a P&G spokesman told TheStreet via email. Shares rose 2.7% in premarket trading on Wednesday.

Last quarter, Procter & Gamble posted earnings of $1.08 a share, above analysts' projections of $1.06, while revenue for the period was $16.86 billion, higher than the consensus estimate of $16.80 billion. Organic sales increased 2%, in line with forecasts.

5. -- PepsiCo (PEP) - Get PepsiCo, Inc. Report reported fourth-quarter adjusted earnings of $1.20 a share, beating estimates by 4 cents. The company forecast earnings of $5.09 a share, below Wall Street estimates of $5.15.

Earnings are expected Wednesday from  Cisco Systems (CSCO) - Get Cisco Systems, Inc. Report  and Kraft Heinz (KHC) - Get Kraft Heinz Company Report  . 

Cisco, PepsiCo and Kraft Heinz are holdings in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer and the AAP team buys or sells CSCO, PEP or KHC? Learn more now.