Here are five things you must know for Wednesday, Aug. 8:   

1. -- Stock Futures Point to a Mixed Start for Wall Street

U.S. stock futures pointed to a mixed start for Wall Street on Wednesday, Aug. 8, with a strong earnings putting the S&P 500 just 0.5% from the all-time high it reached it January.

Contracts tied to the Dow Jones Industrial Average   rose 10 points on Wednesday, futures for the S&P 500 were up 1 point, and Nasdaq futures gained 1 point. The S&P 500 closed Tuesday, Aug. 7, at 2,858.45, about 14 points below its all-time high.

The economic calendar in the U.S. on Wednesday includes Oil Inventories for the Week ended Aug. 3, at 10:30 a.m. ET.

Shares of Michael Kors Holdings Ltd. (KORS) were rising 4.6% in premarket trading on Wednesday after the fashion retailer's fiscal first-quarter profit and sales topped analysts' expectations, and the company raised its outlook for fiscal 2019.

CVS Health Corp. (CVS)  posted second-quarter adjusted earnings of $1.69 a share, beating estimates of $1.61. The company raised the low end of its guidance for 2018 to $6.98 to $7.08 a share from its previous outlook of $6.87 to $7.08. Shares were up 1.3% in premarket trading.

Earnings reports are also expected Wednesday from Twenty-First Century Fox Inc. (FOXA) , Keurig Dr Pepper Inc. (KDP) , Yelp Inc. (YELP) and New York Times Co. (NYT) .

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2. -- Tesla Shares Pause After CEO Musk's 'Going Private' Tweet

Tesla Inc.  (TSLA) shares declined 0.7% in premarket trading on Wednesday, following the stock's biggest one-day gain in nearly four years, as investors appeared to question founder and CEO Elon Musk's $72 billion vow to take the electric vehicle company private.

Shares jumped 11% to close Tuesday at $379.57 after Musk tweeted he was considering taking Tesla private at $420 a share and had the funding to do so.

"As a public company, we are subject to wild swings in our stock price that can be a major distraction for everyone working at Tesla, all of whom are shareholders," Musk said in a letter to staffers posted on Tesla's blog page. "Being public also subjects us to the quarterly earnings cycle that puts enormous pressure on Tesla to make decisions that may be right for a given quarter, but not necessarily right for the long-term."

"Finally, as the most shorted stock in the history of the stock market, being public means that there are large numbers of people who have the incentive to attack the company," he added.

The debt burden of going private could create problems if the company needs to raise more capital, wrote TheStreet's Chris Nolter.

"It would be high risk," Efraim Levy of CFRA Research said of a potential Tesla leveraged buyout. "Right now the capital markets are willing to back him. Would that still be true with the addition of debt from a going private transaction?"

3. -- Bob Iger Talks Up Disney's Streaming Service

Walt Disney Co.'s (DIS) fiscal third-quarter results disappointed but Chairman and CEO Bob Iger promised investors a streaming service to rival Netflix Inc. (NFLX) .

"Brands matter more than ever," Iger told investors following the release Tuesday of the entertainment giant's earnings. Pairing Disney's studios such as Marvel, Lucas Films and Pixar with brands the company is acquiring from Twenty-First Century Fox Inc. ( FOXA) such as Searchlight, FX and National Geographic will give the upcoming streaming service firepower to challenge Netflix, he said.

Adjusted earnings of $1.87 a share in Disney's fiscal third quarter missed forecasts of $1.95, while revenue of $15.2 billion came in below consensus estimates of $15.4 billion.

While Disney works to complete its $71.3 billion purchase of Fox's film, television and international pay-TV holdings, the company left the door open for a new bid for U.K. satellite TV operator Sky. Comcast Corp. (CMCSA) currently has a deal to purchase Sky for £14.75 per share, or £26 billion ($34 billion).

The stock declined 1% in premarket trading on Wednesday.

4. -- Snap Loses Users in the Second Quarter

Snap Inc. (SNAP)  rose 0.3% in premarket trading on Wednesday after the social media company reported a narrower loss in the second quarter and higher revenue than analysts expected. But the company also reported a 2% sequential decline in daily active users, the first time in its history it reported a quarter-to-quarter decline in DAUs.

The Snapchat parent reported an adjusted loss of 14 cents a share in the quarter on revenue of $262.3 million, compared with expectations that called for a loss of 17 cents a share on revenue of $250.4 million. The company's DAUs of 188 million fell short of estimates for 192 million daily active users at the end of the quarter.

In prepared remarks on an investors' call, CEO Evan Spiegel blamed the loss in DAUs on a widely panned redesign of Snapchat, its main app.

"This was primarily driven by a slightly lower frequency of use among our user base due to the disruption caused by our redesign," he said. "It has been approximately six months since we broadly rolled out the redesign of our application, and we have been working hard to iterate and improve Snapchat based on the feedback from our community."

Snap also shared guidance for the first time, projecting revenue of between $265 million and $290 million in the third quarter. 

5. -- Papa John's Slams Founder Schnatter for Sales Drop 

Papa John's International Inc.'s   (PZZA) second-quarter earnings missed analysts' estimates and the pizza chain said same-store sales in North America would fall 7% to 10% this year because of recent media coverage. It also lowered its earnings forecast for full-year 2018.

"Very inexcusable and irresponsible comments" by company founder and former CEO John Schnatter caused same-store sales in July to fall by about 10.5%, current CEO Steve Ritchie told analysts on Tuesday. Schnatter gave up his chairman post at Papa John's after a Forbes story last month reported Schnatter used the N-word during a media training session in May.

Schnatter didn't take kindly to Ritchie's comments. 

"Today's results highlight the further deterioration of Papa John's financial performance under the tenure of Steve Ritchie, since he assumed CEO responsibilities in mid-2016," said Schnatter in a prepared statement on Tuesday. "Instead of addressing the real and fundamental issues confronting the company since that time period, and taking actions to turn sales around, the company is trying to deflect attention from the source of the problem - management's ongoing failures with regard to financial performance -- and blame me for its problems."

Shares fell 10.5% in premarket trading on Wednesday.