NEW YORK (TheStreet) -- Here are 10 things you should know for Tuesday, Aug. 26:
1. -- U.S. stock futures were rising slightly Tuesday ahead of data on durable goods and home prices.
European stocks were trading flat. Asian stocks ended the session mostly lower. Japan's Nikkei 225 index fell 0.6%.
The Deal's Jonathan Braude has the latest in Tuesday's European market action:
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2. -- The economic calendar in the U.S. on Tuesday includes durable goods orders for July at 8:30 a.m. EDT, the Case-Shiller 20-city Index for June at 9 a.m., the FHFA Housing Price Index for June at 9 a.m., and consumer confidence for August at 10 a.m.
3. -- U.S. stocks on Monday rose and the S&P 500 smashed its way through 2,000, bolstering the case that the current rally will continue.
The broad-based S&P 500 advanced 0.48% to 1,997.92, an all-time high, after trading as a high as 2,001.95. The Dow Jones Industrial Average rose 0.44% to 17,076.87. The Nasdaq added on 0.41% to 4,557.34.
4. -- Warren Buffett is helping finance Burger King's (BKW) planned takeover of Canadian coffee-and-doughnut chain Tim Hortons (THI) , The Wall Street Journal reported, citing people familiar with the matter.
Buffett's Berkshire Hathaway BRK.A would invest in the deal in the form of preferred shares, some of the people said. Berkshire is expected to provide about 25% of the deal's financing, one of the people said. The exact structure of Buffett's participation remains unclear and the discussions are ongoing, according to the newspaper.
The takeover, likely valued at about $10 billion or more, could be announced in the next day or two, the people told the Journal.
5. -- Amazon.com (AMZN) is buying streaming platform Twitch Interactive for $970 million in cash as it seeks to take part in video gaming's growth as an online spectator sport.
Twitch is a multi-channel online network built for a generation of people who not only enjoy playing video games, but find it entertaining to watch others who might impart tricks and tips for excelling at their favorite games.
Twitch had 55 million unique visitors in July, up from 20 million in 2012. Most visited the Twitch.tv Web site to watch other people play live or recorded games, competitions interspersed with advertising.
6. -- Electronics retailer Best Buy (BBY) is expected by Wall Street on Tuesday to report second-quarter earnings of 31 cents a share on revenue of $8.99 billion.
7. -- Dish Network (DISH) on Monday filed a 202-page petition with the Federal Communications Commission to block the proposed merger of Comcast (CMCSA) and Time Warner Cable (TWC) .
In the petition, Dish said there is "potential for the merger to significantly damage competitive development of over-the-top (OTT) video and limit consumer access to online video programming."
"The merger would permit and motivate the combined company to hurt or destroy online video rivals through its control over the broadband pipe, passing an estimated two thirds of U.S. households," Dish said in the petition.
8. -- Time Warner's (TWX) Turner cable division is preparing to offer buyouts targeting 500 to 600 staffers, or roughly 4% of its work force, Reuters reported, citing a person familiar with the company.
Turner, which is home to cable networks such as CNN, TNT and the Cartoon Network, employs about 14,000 people.
The buyout packages are part of a larger initiative at Turner to improve the efficiency of the division. During a quarterly earnings call on Aug. 6, Time Warner executives said the reorganization would likely be material in the second half of the year, Reuters reported.
9. -- A U.S. judge cast doubt on Monday over a proposed agreement struck between Hewlett-Packard (HPQ) and plaintiff shareholders to settle a lawsuit over the computing giant's botched acquisition of Autonomy.
At a hearing on Monday in San Francisco, U.S. District Judge Charles Breyer rejected several million dollars in fees that shareholder attorneys would have recouped under the settlement, Reuters reported. "That's out," he said.
In order to approve the remainder of the deal, Breyer said he would have to make further inquiries into whether dismissing claims against HP officers, including current CEO Meg Whitman, was fair for shareholders.
HP announced a $8.8 billion writedown in November 2012, just over a year after buying Autonomy, and linked more than $5 billion to accounting fraud and inflated financials by Autonomy executives.
10. -- AMC drama "Breaking Bad" was the winner of the Emmy Award for best drama series.
It was the second straight win in the category for the dark tale of chemistry-teacher-turned-meth-kingpin Walter White, who was played by Bryan Cranston. The show also won the Golden Globe for best drama last winter.
The series finale aired nearly a year ago, on Sept. 29, 2013.
Cranston won the Emmy for best actor in a drama series at the event Monday evening.
To contact the writer of this article, click here:Joseph Woelfel