IN THE NEWS TODAY
Snap (SNAP) and other companies with multiple share classes won't be eligible for the S&P 500 going forward. A new rule barring multiple classes does not affect existing S&P 500 members with such structures like Alphabet (GOOGL) and Berkshire Hathaway (BRKB). (CNBC)
* MetLife spin-off Brighthouse to replace AutoNation on S&P 500 (FT)
President Donald Trump has dismissed Anthony Scaramucci as White House communications director, just 10 days after he was appointed. The ouster was widely attributed to the former financier's vulgar tirade to a New Yorker reporter last week. (CNBC)
* New chief of staff, retired general Kelly, urged the firing (NY Times)
* Scaramucci's China dealings may have also played a part (CNBC)
The White House has reportedly suffered another embarrassing episode, this time at the hands of an email prankster who posed over the weekend as former Chief of Staff Reince Priebus and criticized Scaramucci's behavior. The emails led to heated exchanges. (CNN)
The president "personally dictated" his oldest son's early July statement responding to the revelation that he met with a Russian lawyer in June 2016, which left out key details about why Donald Trump Jr. took the meeting. (Washington Post)
Senate Democrats offered to work with Republicans on a bipartisan tax reform package today but only if it does not cut taxes for the wealthy, add to the federal deficit, or allow Republicans to enact tax legislation on their own under reconciliation. (Reuters)
The president's Opioid Crisis commission, led by New Jersey Gov. Chris Christie, issued a preliminary finding that its "first and most urgent recommendation" is for Trump to "declare a national emergency." (Washington Post)
Verdict watch continues today at the Martin Shkreli fraud trial after the first day of deliberations on Monday. The so-called "Pharma Bro" Shkreli continued his comedy routine on Facebook with a jab at Scaramucci. (CNBC)
At-home DNA-testing company 23andMe is recruiting 25,000 people for a study to determine how genes influence brain functions in people diagnosed with depression and bipolar disorders. (CNBC)
Soda consumption in the U.S. fell to a 31-year low in 2016, according to Beverage-Digest. That decline can mainly be attributed to waning demand among health-conscious consumers. (USA Today)
Bitcoin faces a pivotal moment as investors are about to receive an entirely new asset called Bitcoin Cash after the blockchain supporting the cryptocurrency is forced to split in two. (CNBC)
* Bitcoin to surge nearly 80%; ethereum to double, analyst predicts (CNBC)
STOCKS TO WATCH
Pandora Media (P) reported a smaller than expected loss of 21 cents per share in the second quarter. While revenue also beat, the streaming music firm cut its full-year forecast.
Sony's (SNE) profit nearly quadrupled in its fiscal first quarter compared to a year earlier, as it saw an overall recovery in its business and a particularly strong performance from its image sensor unit.
Sprint (S) earned 5 cents per share for its latest quarter, compared to forecasts for a 1 cent loss. Revenue beat forecasts, while Sprint chalked up net additions of 61,000 wireless subscribers.
BP (BP) earned $553 million for the second quarter, reversing a year-ago loss. However, the oil giant's bottom line continues to be affected by costs related to the 2010 Gulf of Mexico oil spill.
Honda (HMC) beat forecasts with its quarterly operating profit of $2.44 billion, as stronger Asian sales offset weakness in North America. The automaker also raised its full year forecast.
Texas Roadhouse (TXRH) matched estimates with quarterly profit of 53 cents per share. Revenue was slightly above. A same-restaurant sales rise of 4 percent also beat.
Guests staying at Disney World's Boardwalk, Yacht Club, and Beach Club resorts can hail a Lyft painted to look like Minnie Mouse's polka-dot dress to drive them anywhere in the complexes. (Engadget)