IN THE NEWS TODAY
Wynn Resorts (WYNN) CEO Steve Wynn resigned amid allegations of sexual misconduct, claims that Wynn has denied. The casino and hotel operator's president, Matt Maddox, was appointed CEO effective immediately. Wynn stock was highe in premarket. (CNBC)
House GOP has passed a short-term spending bill that boosts defense spending for the rest of the year. The legislation, however, is likely doomed in the Senate, where lawmakers are negotiating a different spending plan. (CNBC)
* House Democrats relocate retreat as budget talks continue (Politico)
The Pentagon is reportedly moving ahead on a plan for a "grand military parade" later this year at President Trump's request. The parade could run in the millions given the cost of shipping tanks and other hardware to Washington. (Washington Post)
Vice President Mike Pence said the administration would soon announce tough sanctions to persuade North Korea to abandon its nuclear and missile program. He called the North the planet's "most tyrannical and oppressive regime." (Reuters)
Former Vice President Joe Biden told CNN that President Donald Trump's attacks on the FBI are doing "everything" Russian President Vladimir Putin "ever wanted." Trump accused the FBI and the Justice Department of anti-Republican bias.
* Trump treason remarks were 'tongue-in-cheek': White House (CNBC)
At least five people are dead and 60 others are missing after a strong earthquake in the popular Taiwanese tourist city Hualien caused buildings to collapse last night. The quake injured 243 people and collapsed four buildings, officials said. (Reuters)
SpaceX successfully completed its first launch of Elon Musk's Falcon Heavy commercial rocket from NASA's Kennedy Space Center in Florida. Musk told reporters after the launch he was having difficulty comprehending the magnitute of the flight. (CNBC)
Comedian Jim Carrey is quitting Facebook (FB) and dumping his stock. He is urging everyone else to do the same. The comedian tweeted he was selling his shares because the company profited from Russian interference during the 2016 U.S. election. (CNBC)
STOCKS TO WATCH
Lululemon (LULU) Chief Executive Officer Laurent Potdevin resigned from that job earlier this week in part because of his multi-year relationship with a female designer at the company, according to sources who spoke to CNBC.
Supervalu (SVU) is being pushed by activist investor Blackwells Capital to explore options including a breakup and potential sale, according to a letter to the supermarket operator's board seen by the Wall Street Journal.
Chipotle Mexican Grill (CMG) came in two cents above estimates with adjusted quarterly profit of $1.34 per share, with the restaurant chain's revenue matching forecasts. However, comparable restaurant sales rose less than expected, and Chipotle said the number of visitors to its restaurants would keep declining through the middle of this year.
Snap (SNAP) reported a quarterly loss of 13 cents per share, smaller than the 16 cent loss that Wall Street analysts had anticipated. The Snapchat parent saw revenue comfortably beat forecasts, with active daily users increasing by 8.9 million to 187 million during the quarter.
The creators of the TV series Game of Thrones, David Benioff and DB Weiss, will begin working on Disney's (DIS) Star Wars when their show ends in 2019. The story will apparently be separate from the current trilogy in the works. (BBC)