IN THE NEWS TODAY
A Republican memo alleging anti-Trump bias at the FBI and Justice Department could be released today, the White House said. The White House will leave it to lawmakers to release the memo if President Donald Trump decides to declassify it. (CNBC)
* With memo, Nunes now seen as hero of the hard right (NY Times)
Trump, in an apparently joking manner, suggested that there could be a "phase two" of tax cuts coming down the pike. House Ways and Means Committee Chairman Kevin Brady told reporters later there could be improvements the tax code. (CNBC)
GOP lawmakers and the White House are reportedly discussing a gas tax hike to help fund Trump's $1.5 trillion infrastructure plan. It's likely to face opposition from other Republicans reluctant to increase taxes on the middle class. (Axios)
The Trump administration is not ready to sign off on CVS Health's (CVS) $69 billion deal to acquire Aetna (AET). The Justice Department has asked the two companies to provide additional information, extending the waiting period on the deal. (CNBC)
Fidel Castro Diaz-Balart, the eldest son of late Cuban revolutionary leader Fidel Castro, committed suicide after being treated for months for depression. He was also known as Little Fidel, because of how much he looked like his father. (Reuters)
U.S. automaker Ford (F) is having a hard time keeping up with demand for its updated high-end Lincoln Navigators. A vast majority of Lincon buyers opted for the highest trim levels, which can run for around $100,000. (CNBC)
STOCKS TO WATCH
Amazon.com (AMZN) beat estimates on the top and bottom lines with its latest earnings, and its profit of nearly $2 billion for the fourth quarter was the largest in its history. Amazon saw millions of new customers sign up for its "Prime" program, and it also saw a bottom line benefit from the new tax law.
Alphabet (GOOGL) reported adjusted quarterly profit of $9.70 per share, falling 28 cents shy of estimates, although the Google parent's revenue did beat forecasts. Its core advertising business did continue to perform strongly during the quarter. Separately, the company named current director and former Stanford University president John Hennessy as its chairman, replacing Eric Schmidt.
Amgen (AMGN) came up 14 cents shy of Street forecasts with adjusted quarterly profit of $2.89 per share, while the biotech giant's revenue was slightly short of forecasts. Amgen was hurt in part by a significant decline in sales of its popular rheumatoid arthritis drug Enbrel.
Visa (V) reported adjusted quarterly profit of $1.08 per share, nine cents above estimates, while revenue was slightly above forecasts amid a boost in holiday season transactions. The payments network operator also authorized a new $7.5 billion share buyback program.
GoPro (GPRO) lost an adjusted 30 cents per share for its latest quarter, wider than the 11 cent loss anticipated by Wall Street analysts. The high-definition camera maker also saw revenue fall below forecasts on falling demand for its products.
Justin Timberlake, who is performing Sunday's Super Bowl LII halftime show, told reporters that his two-year-old son will never play football. The pop singer said he would support his son if he chose sports, but added: "right now we're working on our manners." (ESPN)
The National Football League's core audience is losing interest rapidly, a Wall Street Journal/NBC News poll found. Fans are following the sport less closely, the poll found, even among key demographics such as young men.