Updated from 5:58 a.m. EST
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Here are five things you must know for Wednesday, Feb. 22:
1. -- U.S. stock futures turned mixed Wednesday after breaking records again in the previous session and ahead of minutes from the Federal Reserve's meeting earlier in February.
The minutes of the U.S. central bank's Jan. 31-Feb. 1 meeting will be released at 2 p.m. EST. Wall Street will be looking for clues about the Fed's views on interest rates.
"U.S. equity investors returned from the Presidents Day holiday in a very bubbly mood as both the S&P 500 and Dow Industrials closed in on record territory again," Stephen Innes of OANDA said, the Associated Press reported. But he added, "The stage is indeed set for the Feds to come out firing on all cylinders this week, so it would be wise to tread cautiously until the airwaves clear."
Bristol-Myers announced Tuesday it would add three directors to its board and buy back $2 billion in stock in a pact with another activist, Jana Partners.
Jana took a stake last year and began pushing for board changes after Bristol-Myers announced in January that a lung-cancer treatment wouldn't get approval as fast as hoped, a person familiar with the matter told the Journal.
Bristol-Myers shares closed Tuesday at $54.78, up 0.35%.
Facebook has pushed to sign deals with owners of sports rights to live stream their games, going after an audience that Twitter (TWTR - Get Report) also is trying to capture, according to sports media consultants, Reuters reported.
"Facebook is aggressively going after sports content and they are now one of a number of competitors to traditional media outlets that are going after sports programming," sports media consultant Lee Berke told Reuters. "It makes perfect sense that they would be going after name brand properties like the MLB."
Live streaming of sports for social media platforms like Facebook is key to attracting people since sports is one of the few types of content that people still watch live, Reuters noted.
5. -- Oil giant Saudi Aramco asked JPMorgan Chase (JPM - Get Report) and Morgan Stanley (MS - Get Report) to assist with its upcoming initial public offering and could call on another bank with access to Chinese investors, a source with direct knowledge of the matter told Reuters.
The U.S. banks have joined boutique investment bank Moelis & Co in being tapped for roles in what is expected to be the world's biggest IPO of about $100 billion.
HSBC Holdings (HSBC) has emerged as the leading contender for a role among a list of five banks that could provide a pipeline to Chinese investors, the source told Reuters.
Saudi Aramco is likely to list in New York, but also is considering London and Toronto, the Journal reported.