Stocks Fluctuate as Dow Hovers Near Record; AT&T and Time Warner Head to Capitol Hill

U.S. stocks fluctuated on Wednesday, after the Dow Jones Industrial Average reached another record high on Tuesday. Investors are gearing up for a hearing from executives at AT&T (T) - Get Report and Time Warner (TWX) who will face questions from lawmakers regarding the $85 billion merger between the companies, announced in October. Billionaire Mark Cuban will testify in favor of the deal. Shares of Dave & Busters (PLAY) - Get Report gained steam after raising its full-year earnings outlook. The company now expects profit between $86.5 billion and $88.5 billion, compared to a previously reported range of $80 billion to $85 billion. The Starbucks (SBUX) - Get Report investor day is taking place in New York City on Wednesday. The coffee company said it expects revenue to grow by 10% annually in each of the next five years. The company forecasts mid-single digit same store sales growth. TheStreet's Scott Gamm reports from Wall Street.