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Here are five things you must know for Wednesday, July 19:

1. -- U.S. stock futures suggested a mixed start for Wall Street on Wednesday, July 19, with the tech-heavy Nasdaq index looked poised to set another record.

The Dow Jones Industrial Average fell 0.25% on Tuesday, July 18, weighed down by a slide in shares of Goldman Sachs Group Inc. (GS) - Get Goldman Sachs Group, Inc. (GS) Report . The Nasdaq rose 0.47% on Tuesday to end at 6,344, surpassing the record close set on June 8. The S&P 500 inched 0.06% higher, scoring a new record of 2,460.

Shares in Europe and Asia traded higher on Wednesday. 

The economic calendar in the U.S. on Wednesday includes Housing Starts for June at 8:30 a.m. ET, and Oil Inventories for the week ended July 14, at 10:30 a.m.

Top economic officials from the U.S. and China, the world's two biggest economies, will meet Wednesday in Washington for the first session of the China-U.S. Comprehensive Dialogue.

Earnings are expected Wednesday from American Express Co. (AXP) - Get American Express Company Report , Alcoa Corp. (AA) - Get Alcoa Corp. Report , Morgan Stanley (MS) - Get Morgan Stanley (MS) Report , Qualcomm Inc. (QCOM) - Get QUALCOMM Incorporated Report  , T-Mobile US Inc. (TMUS) - Get T-Mobile US, Inc. Report and United Rentals Inc. (URI) - Get United Rentals, Inc. Report .

2. Discovery Communications Inc. (DISCA) - Get Discovery, Inc. Class A Report and Scripps Networks Interactive Inc. (SNI) are in talks to merge, The Wall Street Journal reported, reviving talks of a merger between the two that fizzled in 2013. 

Discovery shares rose 5.6% in premarket trading on Wednesday while Scripps gained 14.7% in after-hours trading on Tuesday.

The Journal article, which cited sources familiar with the matter, didn't report on any specifics of the deal, but noted that it's possible the deal could fall apart or that another bidder for Scripps could emerge.

A merger of the competing cable companies would bring channels including Scripps' Food Network, HGTV and Travel Channel and Discovery's Discovery Channel, TLC, Animal Planet and OWN: Oprah Winfrey Network under one roof. 

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3. -- McCormick & Co. (MKC) - Get McCormick & Company, Incorporated (MKC) Report said Wednesday it agreed to buy the food division of Britain's Reckitt Benckiser Group PLC (RBGLY)  for $4.2 billion.

The deal, which is expected to close in the third quarter, will add Reckitt Benckiser's stable of French's mustard, Frank's RedHot Sauce and Cattleman's BBQ Sauce to McCormick's condiments and spices group and is expected to lift McCormick's full-year pro forma sales to around $5 billion.

McCormick said it will would fund deal with both debt and equity financing and has a bridge loan agreement in place.

"The acquisition of RB Foods strengthens McCormick's flavor leadership with the addition of the iconic French's and Frank's RedHot brands to our portfolio, which will become our No. 2 and No. 3 brands, respectively," said CEO Lawrence Kurzius. "RB Foods' focus on creating products with simple, high-quality ingredients makes it a perfect match for McCormick as we continue to capitalize on the growing consumer interest in healthy, flavorful eating."

Shares of Reckitt Benckiser rose 1.4% in trading in London. McCormick shares were inactive in premarket trading in the U.S. on Wednesday. 

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4. -- Shares of International Business Machines Corp. (IBM) - Get International Business Machines (IBM) Report  looked set to open at their lowest level of the year Wednesday after it posted its 21st consecutive quarter of year-on-year sales declines after the closing bell on Tuesday.

IBM shares fell 2.9% in premarket trading on Wednesday, indicating an opening price of $149.60.

IBM posted adjusted earnings of $2.97 a share in the second quarter, beating analysts' estimates of $2.74. But revenue came in at $19.3 billion, falling short of Wall Street's projections of $19.5 billion.

IBM saw declines in all of its of business segments, including its cognitive solutions unit, which includes Watson and IBM's artificial intelligence related products. That unit saw its revenue fall 2.5% year over year, while IBM's increasingly important cloud platforms segment saw its revenue slump 5.1%. Revenue for its legacy systems business dropped 10.4% in the second quarter from a year earlier. 

5. -- United Continental Holdings Inc. (UAL) - Get United Airlines Holdings, Inc. Report shares fell 3.6% in after-hours trading on Tuesday despite the airline reporting second-quarter results above expectations.

Earnings in the quarter were $2.75 a share on an adjusted basis, topping forecasts of $2.66. Revenue was $10 billion; analysts expected $9.97 billion.

The airline said it expected third-quarter passenger unit revenue, of down 1% to up 1%.