IN THE NEWS TODAY
General Electric (GE) was getting a pop in the premarket after saying Chairman and CEO Jeff Immelt is stepping down. John Flannery, current head of GE Healthcare, takes over as CEO in August and adds the chairman title in January. (CNBC)
Uber's board has unanimously adopted recommendations from Eric Holder, former Obama U.S. attorney general, who conducted an inquiry into allegations the ride-hailing firm failed to act on sexual harassment and gender discrimination complaints. (CNBC)
The board of Uber is also considering a leave of absence for Travis Kalanick, CEO and co-founder. Meanwhile, in another high-profile departure, Uber's chief business officer, Emil Michael, may leave the company within days. (NBC News)
Jaguar Land Rover is the latest automaker to take a stake in Uber-rival Lyft as the ride-share operator continues to expand partnerships with automakers and tech firms. Land Rover's mobility services business is investing $25 million in Lyft. (CNBC)
Microsoft (MFST) announced its new Xbox, the Xbox One X, with a hefty $499 price tag and a Nov. 7 release date. That's twice the price of the standard Xbox One and $100 more than Sony's PlayStation 4 Pro. Analysts were cautious. (CNBC)
Attorneys general for Maryland and Washington, D.C. plan to sue President Donald Trump today, alleging he's violated anti-corruption clauses in the Constitution by accepting millions in payments and benefits from foreign governments since moving into the White House. (Washington Post)
U.S. Attorney General Jeff Sessions faces questions about Trump's firing of FBI Director James Comey and undeclared meetings with Russian officials at a Senate hearing tomorrow. But it's unclear whether he'll testify in public or in private. (Reuters)
Qatar's finance minister told CNBC Trump recently praised his country for combating terrorism during a meeting with leaders of Muslim majority nations. Last week, Trump criticized Qatar for funding extremist ideology after Saudi Arabia and several of its allies isolated the small Gulf state. (CNBC)
The Treasury will recommend limits on the government's consumer finance regulator and reassess a broad range of banking rules. The report, set for release as soon as today, is less-sweeping than a bill approved by the House last week to gut the Dodd-Frank law. (WSJ)
Melania Trump and son Barron have moved into the White House, more than four months after President Trump was sworn into office. The first lady had continued living in Trump Tower in New York City while Barron finished the school year. (NBC News)
STOCKS TO WATCH
Amazon (AMZN) has reportedly started hiring people to sell cars online in Europe. A German trade magazine reports the company plans to run the business out of Luxembourg, and it's looking at Britain as a possible test market.
Sanofi (SNY) and Regeneron (REGN) said their anti-cholesterol drug saw positive results in the first dedicated trial involving patients with both diabetes and high cholesterol. The data was presented on Sunday at the annual meeting of the American Diabetes Association.
Teva Pharmaceuticals (TEVA) is looking to refresh its board with four new directors as it tries to restore investor confidence. Teva shares have dropped sharply in recent months following a series of acquisitions and delayed launches, while its drug for multiple-sclerosis faces generic competition.
Western Digital (WDC) is reportedly considering raising its offer for Toshiba's chip unit to more than $18 billion. At a meeting on Friday, Western Digital's CEO told Toshiba's president the company plans to join a consortium that includes KKR and the Development Bank of Japan to compete with a rival offer.
Broadway legend Bette Midler took home the best actress in a musical prize for her role in "Hello, Dolly!" at last night's Tony Awards. Midler's hilariously long speech was certainly a showstopper. (USA Today)