Snap, parent of messaging app Snapchat, has filed confidentially with the Securities and Exchange Commission for an IPO, which sources said could come as soon as March at a valuation of up to $25 billion. (Reuters)
Walgreens Boots Alliance (WBA) claimed in court papers that medical testing lab Theranos voided 11.3 percent of all blood tests provided to the drug store's customers. Walgreens is suing embattled Theranos for alleged breach of contract. (WSJ)
The China Consumers Association has asked Apple (AAPL) to investigate "a considerable number" of reports by users of iPhone 6 and 6s phones that the devices have been shutting off and cannot be turned back on again. (Reuters)
Microsoft (MSFT) is offering concessions to European Union regulators to win approval for its $26 billion deal to buy LinkedIn (LNKD). Officials had expressed concerns about the deal in a meeting with Microsoft executives last week. (Reuters)
Square (SQ) CEO Jack Dorsey plans to sell up to 7 percent of his shares in the next 12 months. Dorsey plans to use the funds for financial and tax planning as well as funding his Start Small Foundation. He's also CEO of Twitter (TWTR), which he also co-founded. (VB)
The reshuffling of Donald Trump's transition team highlights the challenge of setting up a new administration. But in a tweet last night, Trump said the process is "very organized" and only he "knows who the finalists" for his cabinet are. (AP)
Trump also tweeted this morning: "I am not trying to get "top level security clearance" for my children. This was a typically false news story."
Longtime Trump supporter and activist investor Carl Icahn said the president-elect is considering Wall Street veteran Steven Mnuchin as his choice for treasury secretary and billionaire Wilbur Ross for commerce secretary. (Reuters)
Trump would risk the health of the U.S. if he were to act on his campaign promises to block oil imports, Saudi Arabia warned. The president-elect ran on pledges to create "complete American energy independence." (FT)
In addition to today's Fed speak, it's busy day of economic reports, including October producer prices at 8:30 a.m. ET, October industrial production and capacity utilization at 9:15 a.m. ET, and November homebuilders sentiment at 10 a.m. ET.
A sharp spike in bond yields rates following the election of Donald Trump last week threw cold water on the mortgage market, with total home loan application volume down 9.2 percent and refis off 11 percent, according to the Mortgage Bankers Association.
The after-the-bell earnings list this afternoon includes Dow component Cisco Systems (CSCO).
U.S. airfares are expected to fall in 2017, amid overcapacity and stiff competition between budget carriers and legacy airlines, according to an American Express report on the travel industry.
Gap (GPS) named Teri List-Stoll as chief financial officer, effective Jan. 17. List-Stoll was previously CFO at Dick's Sporting Goods (DKS) and Kraft Foods. Gap announced the departure plans of current CFO Sabrina Simmons earlier this month.
Alphabet's (GOOGL) Google delivered a post-Brexit vote of confidence in London's future as a technology hub, announcing plans for a new building in the King's Cross area, housing thousands of extra engineers.
UBS (UBS) said it would not change its presence in London in the foreseeable future. The Swiss bank's chairman said UBS would wait and see "where the dust settles" following the implementation of Brexit.
Boeing (BA) plans to move about 2,500 positions to other sites, cut 500 jobs, and close two facilities by the end of 2020 as part of an effort to operate its Defense, Space & Security business more efficiently.
A raging letter sent from ex-Beatle John Lennon to former bandmate Paul McCartney is expected to sell for around $20,000 tomorrow. The undated letter is believed to have been penned in 1971. (CNBC)