IN THE NEWS TODAY
President Donald Trump's drive to overhaul the U.S. tax code is headed for a pivotal moment today, with Senate Republicans poised to approve a budget measure that would help them pass tax legislation without Democratic support. (Reuters)
*Puerto Rico governor and Trump to meet at White House today (Chicago Tribune)
*Obama to hit campaign trail today for first time since leaving office (USA Today)
The odds of passing a newly proposed bipartisan "short-term fix" for Obamacare got longer as House Speaker Paul Ryan's office indicated he opposes the bill, and President Trump's spokeswoman said he does not support the legislation as now written. (CNBC)
*Judge plans to rule next week in Obamacare subsidies fight (Politico)
*Republicans gear up to fight Trump over NAFTA (Financial Times)
Senators this week are slated to announce a bill they hope will curb foreign governments' influence on U.S. elections. It will call for more transparency in ads on social media platforms run by companies such as Facebook (FB), Google (GOOGL) and Twitter (TWTR). (CNBC)
President Trump has selected Joseph Simons, an antitrust attorney with a Washington law firm, to head the Federal Trade Commission, a White House official said Wednesday. (Reuters)
Spain's central government threatened today to suspend Catalonia's autonomy after the region's leader said it could go ahead with a formal declaration of independence if Madrid continued its "repression." (Reuters)
New crash tests show automakers have made strides in passenger safety. Tests from the Insurance Institute for Highway Safety showed 10 of the 13 cars tested were graded as doing a "good," the highest mark given by the IIHS. (CNBC)
General Electric's new CEO, John Flannery, is expected to cut thousands of corporate-level jobs next month as part of a strategic review, The Wall Street Journal reports, citing sources. The company announced plans earlier this year to reduce costs by $2 billion.
*Former GE CEO Immelt reportedly used two corporate jets on some trips (CNBC)
Kenneth Chenault will step down as chairman and CEO of American Express in February, ending a 17-year run at the helm of Amex. Named CEO in 2001, Chenault, 66, is among the first African-Americans to run a Fortune 500 company. (CNBC)
*Amex beats estimates on earnings and revenue, raised full-year forecast (CNBC)
Amazon (AMZN) will close the bidding process for its second headquarters today. More than 100 cities have expressed interest in making a run for the company's HQ2. Amazon plans to invest more than $5 billion and hire 50,000 people at its second headquarters. (CNBC)
*That email from Amazon is not a scam: Here's why you're getting money (CNBC)
Blue Apron (APRN) cut approximately 6 percent of its workforce, as the meal kit company comes under pressure from intense competition. Blue Apron said the cuts would come in both corporate officers and in its fulfillment centers. (CNBC)
*Blue Apron layoffs hit the office hardest, warehouse workers mostly spared (CNBC)
Gilead Sciences (GILD) won FDA approval for its immunotherapy treatment designed to treat lymphoma. The treatment had been developed by Kite Pharma, which Gilead acquired earlier this year. The price for the one-time treatment will be $373,000. (CNBC)
Scientists claim they have made a research breakthrough in the relationship between sugar and cancer. Researchers in Belgium said yeast with high levels of glucose can overstimulate proteins found mutated inside human tumors. (USA Today)
STOCKS TO WATCH
United Continental (UAL) beat estimates by 8 cents with adjusted quarterly profit of $2.22 per share, with the airline company's revenue matching Street forecasts. United reported a $185 million pretax loss due to hurricane-related flight cancelations.
EBay (EBAY) earned an adjusted 48 cents per share for its latest quarter, matching consensus estimates, while the online marketplace's revenue came in slightly above forecasts as it added nearly 2 million active buyers. However, eBay also said profits for the current quarter could be less than expected as it spends more on marketing and a website revamp.
Adobe Systems (ADBE) is forecasting better than expected revenue and profit for fiscal 2018, thanks to the software company's growth in its cloud business.
MongoDB is raising $192 million in its IPO. The database software firm is expected to start trading today, after pricing 8 million shares at $24 each last night. That was above the recently raised expected range.
Switzerland's St. Moritz ski resort serves as a winter playground for the ultra wealthy. And within the resort sits the most expensive house for sale in the country: a lavish $185 million mansion. (CNBC)