Morning Brief

Wall Street tries to avoid a 3 session losing streak

Key Points


U.S. stock futures were lower this morning as Wall Street tries to avoid a three-session losing streak. The Nasdaq did manage to set another intraday record high Monday before closing lower. (CNBC)

The Yahoo and AOL brands won't go away after Verizon (VZ) buys Yahoo and combines with AOL, Tim Armstrong, CEO of AOL told CNBC. Yahoo CEO Marissa Mayer's departure is being negotiated.

Apple (AAPL) has reportedly ordered 70 million bendable display panels from rival Samsung for the upcoming iPhone 8. Samsung's displays are used on its own flagship Galaxy devices. (Nikkei)

President Donald Trump is expected to meet this morning with corporate leaders including Citigroup's Mike Corbat, Blackstone's Steve Schwarzman, and hedge fund manager John Paulson.

An acrimonious Senate floor battle over the confirmation of Supreme Court nominee Neil Gorsuch is set to begin today. A procedural tool is expected to be employed to limit debate to 30 hours. (WSJ)

White House officials made a new offer to hardline conservative House Republicans whose opposition spurred Speaker Paul Ryan to embarrassingly pull the GOP's Obamacare replacement bill last month. (AP)

House Ways and Means Committee Chairman Kevin Brady is expected as soon as tomorrow to meet with Democrats to discuss tax policy ideas. Brady said the meeting has nothing to do with the health-care debacle. (Reuters)

Trump has signed a repeal of Obama-era broadband privacy rules, a victory for internet service providers and a blow to privacy advocates. The FCC rules had not yet taken effect. (Reuters)

Trump spoke with Russian President Vladimir Putin to offer condolences to the victims of Monday's bomb blast on a St. Petersburg train that killed 14 people and wounded 50 others. (Reuters)

The UAE reportedly arranged a secret meeting in early January between the founder of Blackwater and a Russian close to Putin, in an apparent effort to establish a back-channel between Moscow and President-elect Trump. (Washington Post)

Boeing (BA) has signed a $3 billion deal with Iran's Aseman Airlines to supply 30 737 MAX aircraft to the carrier, the first major sale by a U.S. company to the Islamic Republic under President Trump. (AP)

Lockheed Martin (LMT) is being offered a multi-year block buy for its F-35 aircraft in exchange for not objecting to its rival Boeing getting new orders from the Navy for the F/A-18 fighter. (Reuters)

Tesla (TSLA) chief Elon Musk taunted short sellers of the electric automaker as the stock hit an all-time high Monday of $299 per share, pushing the market value over $48 billion, 8 percent higher than Ford (F). (CNBC)

Google's former driverless-car boss Anthony Levandowski collected $120 million from the tech giant, despite his involvement with a startup at the same time, according to new legal filings. (CNBC)

A federal regulator has ordered Wells Fargo (WFC) to pay $5.4 million to an ex-manager who said he was fired in 2010 after reporting to the bank what he suspected was fraudulent behavior. (NY Times)

In an op-ed, Facebook COO Sheryl Sandberg is calling attention to Equal Pay Day today. Women in the U.S. had to work all of 2016 plus this far into 2017 to catch up to what men earned last year. (USA Today)

Warren Buffett is helping Coca-Cola (KO) launch Cherry Coke in China. He's even allowing his likeness to be used on cans. Buffett's Berkshire Hathaway (BRK.A) owns a 9.3 percent stake in Coca-Cola. (CNBC)


With the White House's focus on trade and ahead of this week's meeting of Trump and Chinese President Xi Jinping, the government issues at 8:30 a.m. ET this morning February trade deficit data.

Fed Gov. Daniel Tarullo delivers his final speech before leaving the central bank in a Princeton University event at 4:30 p.m. ET.

Seadrill (SDRL) shares were off about 40 percent in premarket trading after the oil rig firm warned about a planned bankruptcy. The stock has already dropped about 95 percent drop over the past three years.


Kate Spade (KATE) wants more time to evaluate a buyout bid from Coach (COH). The handbag and accessories maker said last week it was assessing options. Michael Kors (KORS) also remains interested in Kate Spade.

General Motors (GM) detailed its contacts with Greenlight Capital's David Einhorn in a SEC filing after Einhorn went public last week with his proposal to create two different classes of GM shares.

Teva Pharmaceutical (TEVA) has won FDA approval for its drug to treat Huntington's chorea, an inherited and fatal degenerative disorder.

Qualcomm (QCOM) plans to file a motion to dismiss an FTC lawsuit that accuses the chipmaker of engaging in anti-competitive behavior.

MSG Networks (MSGN) is exploring a potential sale, according to a report in the New York Post. Verizon (VZ) is said to be a possible buyer, while AT&T (T) would probably take a pass.

Facebook's (FB) WhatsApp unit is considering entering the digital payment services market in India, in what would be its first such move globally.


Justin Jackson delivered the go-ahead three-point play and North Carolina scored the last eight points for a 71-65 win over Gonzaga, the national title that heartbreakingly eluded the Tar Heels last year. (AP)

The NHL said the league won't take a break to accommodate players who want to participate in the 2018 Winter Olympics. The players union called the decision shortsighted. (LA Times)