A senior Egyptian official on Tuesday said human remains recovered during the search for EgyptAir Flight 804 lend evidence there was an explosion on board before the plane disappeared. (NBCNews)
Iraqi forces are shelling the ISIS stronghold of Fallujah for a second day. The United Nations and the International Committee of the Red Cross have called on both sides to protect the 100,000 citizens estimated to be trapped in the city. (Reuters)
Apple (AAPL) has asked its suppliers to make more iPhone 7 units than previously expected, according to Taiwan's Economic Daily. The stock popped Monday as the paper said Apple ordered up to 78 million units by year end, above expectations of 65 million. (Economic Daily/CNBC)
In other bullish Apple news, Chinese smartphone maker Xiaomi saw sales growth decline significantly last year. Revenues rose just 3 percent in 2015, compared with 135 percent in 2014, Fortune magazine reported. (Fortune/CNBC)
Fitbit's (FIT) heart rate trackers are "highly inaccurate," according to a study conducted by researchers at California State Polytechnic University. The study was commissioned by lawyers in a class action lawsuit aimed at three Fitbit models that use the PurePulse heart monitor. (CNBC)
Facebook (FB) is revamping its Trending Topics section in the wake of allegations its employees suppressed politically conservative stories. Among the changes, stories will not be assigned importance based on whether they're covered by news sites like The New York Times and CNN. (Recode)
Snapchat has been valued at $22.7 billion following a new $200 million funding round, TechCrunch reported, citing sources with knowledge of the deal. The photo-sharing app maker had previously been valued at $16 billion (TechCrunch/CNBC)
Toyota (TM) has recalled an additional 1.6 million U.S. vehicles outfitted with Takata airbags linked to 13 deaths worldwide. Toyota has now recalled 4.7 million vehicles with Takata airbags in the United States. (Reuters)
Chinese policy makers have largely abandoned an effort to allow market forces to set the value of the yuan, the Wall Street Journal reports. Minutes from the People's Bank of China's March meeting reviewed by the paper show bank officials are focused on maintaining stability at the expense of a shift towards market-based currency policy. (WSJ)
Regulators in Singapore have stripped Switzerland-based BSI Bank of its merchant bank status. BSI has been implicated in an investigation into Singapore's troubled 1MDB development fund. The Monetary Authority of Singapore alleged "poor management oversight" on BSI's part and "gross misconduct" by some of its staff. (CNBC)
The SWIFT service that facilitates financial transfers around the world will launch a new security program after hackers breached computers at Bangladesh's central bank, allowing them to access the country's SWIFT credentials and steal $81 million from its account at the New York Federal Reserve Bank. (Reuters)
The FBI is investigating Virginia Gov. Terry McAuliffe's 2013 campaign over a potentially illegal contribution from a Chinese politician. Investigators are also focused on donors who gave to both McAuliffe's gubernatorial bid and the Clinton Global Initiative, for which the governor served as a board member. (NBC News)
The T.S.A. administrator replaced the agency's top security official, Kelly Hoggan, following backlash over long security lines at U.S. airports and management issues. (NY Times)
BY THE NUMBERS
It's a light day for government economic reports, with the 10 a.m. ET release of new home sales the only set of numbers on the calendar. Economists are looking for a 2.5 percent-rise for April to an annual rate of 534,000 units, following a drop of 1.5 percent in March.
Two specialty retailers highlight this morning's earnings reports, with electronics seller Best Buy (BBY) and auto parts retailer AutoZone (AZO) both out with quarterly numbers before the opening bell. Intuit (INTU) is the most prominent of today's after-the-bell earnings reports.
STOCKS TO WATCH
Toll Brothers (TOL) reported adjusted quarterly profit of 51 cents per share, 5 cents above estimates. The luxury home builder's revenue also topped Street forecasts, and it saw improvements in sales, profit margins, and backlog over a year earlier.
Sony (SNE) is predicting a 2-percent rise in annual profit for the fiscal year ending March 31, with results impacted by a partial production halt at an image sensor plant. The halt was instituted so the company could assess earthquake damage at the plant.
Coca-Cola (KO) production has been halted in Venezuela due to a lack of sugar in that country. Production of diet drinks containing no sugar are continuing normally, according to a Coca-Cola spokeswoman.
JPMorgan Chase's (JPM) private bank unit is cutting nearly 100 workers, according to the Wall Street Journal. The division still has about 12,000 people and is continuing to actively hire even as it cuts out underperformers.
Square (SQ) was upgraded to "buy" from "neutral" at BTIG, which cites both valuation and the potential for short-squeeze related gains. BTIG has a price target of $12 per share for the mobile payments company, compared to the Monday close of $9.46 per share.
WATERCOOLER
The Star Wars Chewbacca mask featured in a viral video that shows a woman chuckling while wearing the Wookie merch is now fetching hundreds of dollars online after it sold out at retailers across the country. (CNBC)