Wells Fargo (WFC) has increased its litigation loss reserves to $1.7 billion from $1 billion, according to a filing. Wells Fargo has confirmed reports the SEC has joined those looking into the recent disclosure and revamping of the bank's sales practices. (CNBC)
Despite beating estimates with quarterly results, Facebook (FB) was getting slammed in the premarket, after warning ad revenue growth rates would slow "meaningfully" next year as the social network maxes out the number of ads without damaging the user experience. (CNBC)
Fitbit (FIT) was losing about a third of its value in premarket trading, after revenue as well as fourth-quarter and full-year outlook fell short of estimates. The stock has fallen more than 55 percent since its June 2015 IPO, which was priced at $20 per share. (CNBC)
Whole Foods Market (WFM) beat estimates on earnings and matched on revenue. Meanwhile, the organic grocer named co-founder John Mackey as its sole CEO. Mackey and Walter Robb were co-CEOs. Robb will remain on the board and serve as a senior advisor.
Ford (F) has launched Black Friday clearance sales early, following a nearly 12 percent drop in October sales. Ford is offering $1,000 rebates on 2016 and 2017 models. Last year, Black Friday deals from several automakers made for a strong November. (WSJ)
The Justice Department filed an antitrust lawsuit against AT&T's (T) DirecTV, alleging the satellite television service engaged in unlawful information sharing with rival pay-TV operators during negotiations over whether to carry a Dodgers-owned channel, SportsNet LA. (WSJ)
The Chicago Cubs ended a 108-year wait for a World Series title, beating the Indians in Cleveland last night in a thrilling 10 inning 8-7 Game 7 classic. The Cubs capped a three games to one comeback. (Reuters)