Tesla Motors (TSLA) chief Elon Musk said the U.S. electric automaker is working exclusively with Japan's Panasonic to supply batteries for the upcoming Model 3 sedan, its first mass-market vehicle. Panasonic shares in Tokyo soared overnight. (Reuters)
Yahoo (YHOO) is auctioning off about 3,000 patents in a sale that could raise more than $1 billion. The move comes in the midst of the high-profile sale of Yahoo's core internet business, for which Verizon's (VZ) $3 billion bid is seen as the leading contender. (WSJ)
A police investigation found no proof Chesapeake Energy co-founder and ex-CEO Aubrey McClendon — who drove into a bridge on March 2, a day after he was indicted by a federal grand jury for allegedly rigging oil and gas leases — was trying to kill himself. (WSJ)
Microsoft (MSFT) scientists said by analyzing large samples of search engine queries they may in some cases be able to identify internet users who are suffering from pancreatic cancer, even before they have received a diagnosis. (NY Times)
Amazon (AMZN) CEO Jeff Bezos, at a Washington event attended by India's Prime Minister Narendra Modi, said the online retail giant would invest an additional $3 billion in India, bringing its total investment in country to more than $5 billion. (CNBC)
Modi is set to address a joint session of Congress today, after meeting at the White House Tuesday with President Barack Obama — a sitdown aimed at consolidating strong ties between the two nations but was short on major outcomes. (AP)
BY THE NUMBERS
The European Central Bank is adding corporate bonds to its massive asset-buying stimulus program today. Along with other measures such as ultra-cheap long-term loans and government bond-buying, the ECB aims to kickstart the euro zone economy and lift inflation there.
The World Bank cut its 2016 global growth forecast to 2.4 percent from the 2.9 percent estimated in January due to stubbornly low commodity prices, sluggish demand in advanced economies, weak trade, and diminishing capital flows.
It's a light morning for U.S. government numbers, with the Labor Department's Job Opportunities and Labor Turnover Survey, referred to as JOLTS, at 10 a.m. ET, and the Energy Department's weekly look at oil and gasoline inventories at 10:30 a.m. ET.
The weak May employment report released last Friday pushed interest rates lower, but the desire for home loans was already on the rise. Mortgage application volume jumped 9.3 percent, according to the Mortgage Bankers Association.
The original "Ghostbusters" opened in theaters 32 years ago today. The 1984 movie made more than $500 million worldwide. The reboot starring Melissa McCarthy and Kristen Wiig will be released next month.
STOCKS TO WATCH
A day after filing its delayed and ultimately disappointing quarterly earnings report, Valeant's (VRX) new CEO said he would focus on rebuilding the troubled drugmaker's reputation. Valeant shares were stable in premarket trading, after falling nearly 15 percent Tuesday.
Former LendingClub (LC) CEO Renaud Laplanche has been speaking with private equity firms about a potential takeover, according to Reuters. Laplanche left LendingCLub in May, following a probe that revealed falsified documentation regarding loans to an investor.
Lululemon (LULU) reported adjusted quarterly profit of 30 cents per share, a penny below estimates. While revenue was above forecasts, the yoga wear maker warned on full-year profits. Lululemon's bottom line has been impacted by higher costs.
Dave & Busters (PLAY) reported quarterly profit of 72 cents per share, 13 cents above estimates, while the arcade and restaurant chain's revenue also beat forecasts. Dave & Buster's also raised its outlook for the year as well as announcing a $100 million stock buyback program.
VeriFone (PAY) missed estimates by 5 cents with adjusted quarterly profit of 47 cents per share, though the provider of payment technology did see its revenue come in above forecasts. VeriFone also warned on outlook, and said a strategic review would likely lead to job cuts.
WATERCOOLER
Clint Dempsey had a goal and two assists, and the United States soccer team rebounded from its opening loss in the Copa America with a convincing 4-0 victory over Costa Rica last night. (ESPN)
Tiger Woods won't play at next week's U.S. Open. The 40-year-old, 14-time major golf champion, who hasn't played a competitive round since August 2015, said he's going to continue to concentrate on rehabbing his surgically repaired back. (USA Today)