IN THE NEWS TODAY
Facebook (FB) and Tesla (TSLA) headline this afternoon's after-the-bell earnings. But this morning, investors are focusing on Apple's lower than expected revenue on weak iPhone sales. Quarterly earnings, however, did beat forecasts. (CNBC)
Apple increased its dividend by 10.5 percent, becoming the biggest-paying dividend stock in the world. Apple added $35 billion to its buyback program. The tech giant's cash pile increased to $256.8 billion in the quarter, up more than $10 billion from the prior period. (CNBC)
Looking to double the revenue of Apple's services business by 2020, CEO Tim Cook revealed to CNBC the company has 165 million paid subscriptions "across Apple-branded services and third-party." Cook also said he's "very enthusiastic" about China after a sales drop there.
Twilio (TWLO) shares were off 30 percent in the premarket after the CEO blamed Uber for the cloud software developer's disappointing financial results. Uber accounts for 12 percent of Twilio's revenue. Twilio also warned on forward guidance. (CNBC)
Straight Path (STRP), soaring 20 percent in the premarket, said it's determined that the previously announced bid from a still-unnamed telecommunications company is "superior" to its deal to be bought by AT&T. (CNBC)
Traders short selling, or betting against, Elon Musk's Tesla (TSLA) and its soaring stock have lost $3.7 billion this year, eclipsing the combined losses of traders shorting Apple, Amazon (AMZN), and Netflix (NFLX). (Reuters)
The SEC is looking into whether Sunrun (RUN) and Musk's SolarCity have adequately disclosed how many customers have canceled contracts after signing up for a home solar-energy system. (WSJ)
White House National Security advisor H.R. McMaster called President Donald Trump's foreign policy approach as "disruptive" and could help stabilize the Mideast. The president meets the Palestinian leader today. (Reuters)
The latest GOP effort to replace Obamacare is teetering on the brink of collapse in the House, reflecting a new assertiveness by Republicans centrists, a group that in recent years has rarely wielded such power. (WSJ)
FBI director James Comey, is expected to be grilled today by lawmakers in both parties who have sharply questioned his judgment on the investigations into both Hillary Clinton's use of a private email server and Russia's election meddling. (NY Times)
While Hillary Clinton blamed herself for losing the presidential election to Trump. In an interview, she also blamed Comey's letter about her email practices and Russian election interference. (WSJ)
North Korea has confirmed the detention of an American citizen for alleged acts of hostility aimed at overthrowing the country. The North is currently holding at least two other Americans. (USA Today)
STOCKS TO WATCH
Etsy (ETSY) reported a breakeven quarter, compared to analyst forecasts of a one cent per share profit. The online craft products company also missed on revenue. CEO Chad Dickerson is being replaced after six years by former American Express (AXP) executive Josh Silverman.
FireEye (FEYE) lost 9 cents per share for its latest quarter, smaller than the estimate of a 26 cent loss. The cybersecurity firm's revenue also beat forecast as subscriptions increased.
Akamai (AKAM) reported quarterly profit of 69 cents per share, 2 cents better than estimates, with revenue also beating Street forecasts. However, the provider of internet content delivery technology gave a weak current quarter and full-year forecast.
First Solar (FSLR) earned 25 cents per share for its latest quarter. Analysts had expected a 13 cent loss. The solar equipment maker also saw revenue vastly exceed estimates. First Solar raised its 2017 guidance.
Mondelez (MDLZ) beat estimates by 3 cents with adjusted quarterly profit of 53 cents per share. The snack maker's revenue also beat forecasts. However, Mondelez CEO Irene Rosenfeld told CNBC first-quarter demand in the U.S. was weak.
Weight Watchers (WTW) lost a penny per share in its latest quarter, smaller than expectations for a 4 cent loss. The weight loss firm's revenue also beat estimates. Weight Watchers raised its full-year forecast.
With the 143rd running of the Kentucky Derby set for Saturday, the race's draw, which takes place this morning, determines the start gate positions for all 20 horses at Churchill Downs. (USA Today)