In earnings news this morning, Dow component Merck (MRK) reported profits that beat expectations but revenue that fell short. Comcast (CMCSA) missed slightly on earnings but beat on revenue. General Motors (GM) is also out with numbers. (CNBC)
Chipotle (CMG) was sharply lower in premarket trading, after reporting earnings that beat expectations but revenue that missed forecasts. The struggling Mexican food chain also disclosed a wider criminal investigation into recent food-safety scandal. (CNBC)
Yahoo (YHOO) was under pressure in the premarket, revealing a restructuring that includes consideration of a reverse spin-off and plans for a 15 percent staff reduction. The tech company also posted quarterly results broadly in line with expectations. (CNBC)
Yahoo CEO Marissa Mayer joins CNBC's "Squawk on the Street" at 9 a.m. ET.
Amazon (AMZN) is planning to open hundreds of physical bookstores, according to the CEO of General Growth Properties (GGP). Amazon, which opened its first brick-and-mortar store in November, declined to comment. (WSJ)
IPhone battery case maker Mophie is being bought for at least $100 million by rival Zagg (ZAGG), which saw its stock surge in premarket trading. The deal, approved by both boards, should close later in the first quarter. (Re/code)
Toyota (TM) is recalling 320,000 vehicles due to a side airbag-related defect. But the issue is unrelated to the ongoing Takata airbag recall, which has affected about 20 million vehicles in the U.S. (Automotive News)
Valeant (VRX) and Turing Pharmaceuticals, formerly headed by Martin Shkreli, boosted the prices of newly acquired drugs to meet preset profit targets, said congressional investigators. Executives from both companies are expected to testify at a hearing tomorrow. (WSJ)
Health officials said a person in Texas has become infected with the Zika virus through sexual contract. Meanwhile, Florida health officials have confirmed two more cases of Zika there, bringing to nine the number of infections in the state. (AP & USA Today)
The House has failed to override the president's veto of a bill that would have repealed key provisions of Obamacare and stripped federal funding from Planned Parenthood. (USA Today)
The House Oversight Committee today holds the first congressional hearing into the Flint, Michigan water crisis, which started in April 2014 after the city switched sources to save money. (Detroit Free Press)
GOP presidential candidate Donald Trump, in a return to form at a New Hampshire rally last night, declared his second-place Iowa finish a success and took shots at caucus winner Ted Cruz. (NBC News)
On the Democratic side, Hillary Clinton said her campaign received a boost from her razor-thin victory in Iowa against Bernie Sanders, but cautioned against making any predictions in New Hampshire. (NBC News)
In his first visit to a U.S. mosque as president, Barack Obama visits a Baltimore-area Islamic center today, amid growing concern about hostility toward Muslim Americans. (USA Today)
BY THE NUMBERS
It's another busy day of economic data in the lead up to the government's January jobs report on Friday. The ADP releases its January look at private sector employment at 8:15 a.m. ET. The ISM releases its non-manufacturing index for January at 10 a.m. ET. The Energy Department is out with its usual Wednesday report on oil and gasoline inventories at 10:30 a.m. ET.
After-the-bell earnings this afternoon include numbers from GoPro (GPRO), Yum Brands (YUM), Allstate (ALL), MetLife (MET), Buffalo Wild Wings (BWLD), Microchip Technology (MCHP), and Take-Two Interactive (TTWO).
STOCKS TO WATCH
3M (MMM), the maker of Scotch tape and Post-it notes, increased its quarterly dividend by 8 percent to $1.11 per share, and also announced a $10 billion share repurchase program.
IAC/InterActiveCorp (IAC) missed on earnings and revenue. The owner of a variety of web businesses spun off its dating website segment Match Group last year.
Match Group (MTCH) beat on earnings but fell short on revenue. The dating website operator was hurt by a drop in revenue from its non-dating services like Princeton Review and Tutor.com.
Gilead Sciences (GILD) beat on earnings and revenue, helped by strong sales for its hepatitis C drugs Sovaldi and Harvoni. Gilead also raised its quarterly dividend by 10 percent, and authorized an additional $12 billion in share repurchases.
CVS Health (CVS) unveils its first pharmacy in a Target (TGT) store today, following the CVS deal back in June to buy the pharmacy business of Target (TGT) for $1.9 billion.
Editas Medicine (EDIT) and BeiGene (BGNE) will become 2016's first U.S. IPOs after pricing their shares last night. Editas raised $94.4 million, while BeiGene raised about $158 million.
WATERCOOLER
Las Vegas money is betting heavily on the Carolina Panthers over the Denver Broncos in Super Bowl 50 this Sunday. Following Vegas has proved a winner 67 percent of the time. (CNBC)