Stock Market News Today Driven by BKW and AMZN Acquisitions

Stock market news today, August 27, 2014: U.S. stock markets struck multiple intraday records on Tuesday, as strong consumer data suggested further momentum for the economy. The S&P 500 hit another record, fresh off its first intraday rise over the 2,000 level yesterday.

All eyes will be on the international markets today, as investors look to the European Central Bank to get a better understanding of whether Brussels will ramp up stimulus spending to refuel sputtering economies in the region. Investors may also be wary of events in Eastern Europe, where Russian President Vladimir Putin met Ukrainian leader Petro Poroshenko for a one-on-one meeting. Following the discussion, Putin said it is up to leaders in Kiev to settle geopolitical problems with pro-Russian forces settled toward the eastern Ukraine border.

Here's what you should know to make your Wednesday profitable:

• Big Value: It was just seven months ago that Snapchat Chief Executive Officer Evan Spiegel announced he had turned down a $3 billion offer for his company from tech giant Facebook Inc. (Nasdaq: FB). Now, he's looking at a major payday because of it. On Tuesday, venture capital giant Kleiner Perkins Caufield & Byers announced it would invest up to $20 million the in social messaging app, a deal that values the company at roughly $10 billion. The lofty valuation is surprising considering that Snapchat doesn't have any revenues. In January 2014, after rejecting Facebook's offer, Spiegel stated his desire to build the company out over the long term.

• One Smoking IPO: Shares of Mobileye NV (Nasdaq: MBLY) were up more than 8% on Tuesday, as one of the hottest initial public offerings of 2014 continues to soar at full speed. The company designs technology needed to prevent automobile accidents and is expected to provide a key role in developing self-driving vehicle technology. The company is poised to profit from a new rule from the National Highway Traffic Safety Administration that all vehicles weighing fewer than 10,000 pounds must have backup cameras by 2019.

• Food Fight: Following backlash against Burger King Worldwide Inc. (NYSE: BKW) over allegations the company is attempting to leave the United States to avoid higher taxes, its company's CEO said the company wasn't engaging in an "inversion." CEO Daniel Schwartz announced on social media that BKW's purchase of Canadian firm Tim Hortons Inc. (NYSE: THI) was part of a global strategy to expand both brands. Schwartz said BKW will remain headquartered in Miami, while the new global firm will be based in Ontario. Anti-inversion advocates have also taken direct aim at billionaire Warren Buffett, whose favorable investment is helping fuel the merger despite his repeated calls for higher taxes on the wealthy who earn a higher share of their income through capital gains.

• Shoot and Miss: Shares of gun manufacturer Smith & Wesson Holding Corp. (Nasdaq: SWHC) slipped more than 11% after the company expected concerns about rising inventories of its sports rifles across the entire industry had forced the firm to slash its second-quarter outlook. Analysts had anticipated quarterly earnings of $0.28 per share, a steep premium to the $0.04 to $0.08 that the company now forecasts. Shares of Sturm, Ruger & Co. (NYSE: RGR) also fell nearly 5% after its rivals statement on industry inventories.

• Buy, Buy, Buy: Shares of Amazon.com Inc. (Nasdaq: AMZN) were in positive territory in pre-market hours this morning after the company continues to generate positive interest from its $970 million acquisition of game-sharing platform Twitch Interactive. The strategic purchase will allow users to communicate on even stronger networks, while Amazon profits off a growing online streaming market for video games.

• Earnings Reports: Stay tuned for earnings reports from Seadrill Ltd. (NYSE: SDRL), Tiffany & Co. (NYSE: TIF), Brown Forman Corp. (NYSE: BF/B), Donaldson Company Inc. (NYSE: DCI), Chico's FAS Inc. (NYSE: CHS), Brown Shoe Company Inc. (NYSE: BWS), Express Inc. (NYSE: EXPR), Bio-Reference Laboratories Inc. (Nasdaq: BRLI), and Yingli Green Energy Holding Company Ltd. (NYSE: YGE)

• Today's Economic Calendar: Today's schedule features MBA Purchase Applications and EIA Petroleum Status Report.

Full U.S. Economic Calendar August 27, 2014

• MBA Purchase Applications at 7 a.m.
• EIA Petroleum Status Report at 10:30 a.m.
• 2-Yr FRN Auction at 11:30 a.m.
• 5-Yr Note Auction at 1 p.m.

Today's Top Story: Solar energy began as a backup to more conventional grid-networked sources of power and has quickly blossomed into a separate profit center. And a blockbuster acquisition announced earlier this month is about to make investing in solar energy a lot more appealing....