NEW YORK (TheStreet) -- Here are 10 things you should know for Wednesday, Dec. 24:
1. -- U.S. stock futures were rising on Wednesday after equities rose for the fifth straight day and the Dow Jones Industrial Average and S&P 500 closed with record highs on Tuesday.
The Dow on Tuesday topped 18,000 for the first time.
European stocks traded mixed Wednesday while Asian shares ended the session mostly higher.
2. -- The economic calendar in the U.S. on Wednesday includes weekly initial jobless claims at 8:30 a.m. EST.
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3. -- U.S. stocks on Tuesday rose as the Santa Claus rally continued for a fifth straight session after third-quarter GDP showed signs of better-than-expected U.S. economic health.
The S&P 500 added 0.17% on Tuesday and the Dow climbed 0.36% to 18,024. The Nasdaq fell 0.33%.
4. -- Stryker (SYK) is planning a takeover offer for Smith & Nephew (SNN) , the U.K. medical device maker, that could happen in the coming weeks, Bloomberg reported.
Stryker, the U.S. maker of surgical implants, plans to offer a significant premium to Smith & Nephew's share price, with a person close to the matter telling Bloomberg it could be about 30%.
Stryker isn't planning a tax inversion because of the limited tax benefits and political risk, said one of the people.
5. -- The National Football League will begin posting short video clips on Facebook (FB) . They could include highlights as well as NFL news and fantasy-football advice, The Wall Street Journal reported, citing people familiar with the plans.
The clips will be immediately followed by ads from Verizon Wireless. The Verizon (VZ) unit will pay to promote the clips within NFL fans' Facebook news feeds.
6. -- Sony (SNE) was considering the sale of its music-publishing business, including a partnership with Michael Jackson's estate that owns the Beatles catalog, as recently as last month, e-mails released by hackers show, according to a report from Bloomberg.
The "top secret" plan was being handled in the U.S. by Sony Entertainment CEO Michael Lynton, Sony Corp. of America President Nicole Seligman and their U.S. Chief Financial Officer Steve Kober, according to a Nov. 21 e-mail from Kober. The company had concluded the business had few growth prospects.
Meanwhile, Sony said Tuesday the Seth Rogen North Korea farce The Interview, "will be in a number of theaters on Christmas Day."
The film is set to open in more than 200 theaters, down from an original release planned in 3,000.
Sony last week canceled the Christmas Day release of The Interview in the wake of an extensive hacking attack and release of confidential emails by a group linked with North Korea.
7. -- Coca-Cola (KO) plans to ax at least 1,000 to 2,000 jobs globally in the coming weeks, the biggest thinning of its ranks in 15 years, the Journal reported. It is also introducing stricter budgeting, telling executives to swap limousines for taxis, and dropped its lavish Christmas party for Wall Street analysts.
The moves are part of a $3 billion cost-cutting plan Coke announced in October after warning it would miss profit targets this year and next as consumers drink less soda, the Journal noted.
8. -- Prosecutors in South Korea charged Uber CEO Travis Kalanick and the head of its domestic business partner MK Korea Co. with violating a transportation law, the latest in a series of legal challenges the ride-booking service faces as it expands in Asia.
Seoul Metropolitan Government said this year it may ban Uber's service and similar applications on grounds they're unsafe and compete with licensed taxi services, Bloomberg reported. From next week, the government will offer rewards of as much as 1 million won ($905) to people who provide information on Uber's services.
9. -- Takata, the Japanese maker of airbags at the center of massive recalls in the U.S. and elsewhere, said its President Stefan Stocker is moving aside and the company's chairman will take over.
Takata said Chairman Shigehisa Takada will take on the additional role of president. A spokeswoman said Stocker will remain a board member in a move that is not intended to be a demotion.
Takada, Stocker and two other top executives of the company will take pay cuts ranging from 20% to 50%.
10. -- American Airlines (AAL) awarded most employees two days before Christmas with a 4% pay raise, on top of negotiated pay raises.
Flight attendants will have hourly pay rates 7% higher than their peers at Delta (DAL) and United (UAL) .
-- Written by Joseph Woelfel
To contact the writer of this article, click here:Joseph Woelfel