The Business Roundtable, a group of CEOs of nearly 200 major U.S. corporations, gave a new definition of the "purpose of a corporation."Marketsread more
Stocks rose sharply on Monday as Treasury yields rebounded, quelling fears of a possible recessionUS Marketsread more
J.P. Morgan estimates the average annual tariff cost per household will be $1,000 with the new round of Trump's tariffs.Marketsread more
Since its IPO 15 years ago, Google has become more and more powerful. Today, that power is being highly scrutinized.Technologyread more
The attacks come after state and local ransomware attacks in New York, Louisiana, Maryland and Florida resulted in the loss of significant sums.Technologyread more
J.P. Morgan says investors should remain guarded for the rest of August and wait until next month before buying stocks again.Marketsread more
The service will be available on popular platforms like Apple TV, Google Chromecast and Roku, but not Amazon's Fire TV.Technologyread more
Investors should be careful not to buy or sell stocks based on last week's brief inversion of the yield curve in the bond market, CNBC's Jim Cramer warns.Investingread more
Growth in fitness is strong now, but analysts are already warning of a slowdown if the economy goes into a recession.Business Newsread more
The conglomerate's head of investor relations released a more detailed statement about accounting practices under fire from Harry Markopolos.Marketsread more
Wild market swings claimed plenty of victims last week, but Cornerstone Macro's Carter Worth says Home Depot is poised for a big breakout.Options Actionread more
Check out the companies making headlines before the bell:
Walgreens Boots Alliance – Walgreens – the newest Dow component – reported adjusted quarterly profit of $1.53 per share, 5 cents a share above estimates. Revenue beat estimates, as well, and the drugstore operator also authorized a $10 billion share repurchase program and raised its quarterly dividend by 4 cents a share to 44 cents per share.
Accenture – The consulting firm beat estimates by 7 cents a share, with adjusted quarterly profit of $1.79 per share. Revenue also beat forecasts. Accenture’s revenue rose nearly 16 percent as it benefited from investments in cloud-based services.
McCormick – The spice maker earned an adjusted $1.02 per share for its latest quarter, 9 cents a share above estimates. Revenue was slightly above forecasts, and the company said it had plans to achieve at least $105 million in cost savings.
Salesforce.com – BMO is rating the business software company’s stock as its “top pick,” saying it had growing confidence in the durability of Salesforce’s revenue growth.
Sempra Energy – Sempra is selling its U.S.-based wind and solar assets, according to a Securities and Exchange Commision filing, and expects to take an impairment charge of $870 million to $925 million as a result. Some natural gas assets are also being sold.
Bed Bath & Beyond – The company reported adjusted quarterly profit of 33 cents per share, two cents above estimates, with the home goods retailer’s revenue essentially in line with forecasts. However, the company reported a 0.6 percent drop in same-store sales, compared to expectations of a small increase, as competition in home furnishings intensifies.
General Electric– GE’s long term care insurance unit is reportedly drawing potential buyout interest from Athene Holding, the insurance business of private-equity firm Apollo Global Management. The Financial Times reports talks with Athene are at an early stage and no deal is imminent.
Apple – Apple and Samsung settled a seven-year old iPhone patent dispute, ending a long legal battle. Terms of the settlement were not disclosed. Separately, Apple is considering a “streaming bundle” that would combine music, TV, and magazine articles into a single subscription, according to The Information.
Chipotle Mexican Grill – Chipotle told an investor call that it was planning to close up to 65 underperforming restaurants, and that it will introduce a delivery function to its mobile app this summer.
BJ’s Wholesale – BJ’s will begin trading on the New York Stock Exchange today, after pricing its initial public offering at $17 a share. The price was at the upper end of the indicated $15 a share to $17 a share range, and values the warehouse retailer at $2.15 billion.
IBM – Nomura/Instinet initiated coverage of IBM with a “buy” rating and a $150 price target, saying IBM had built a foundation for modest but sustained revenue growth.
Shire — A group of Takeda Pharmaceutical shareholders was unsuccessful in passing a proposal to block the proposed acquisition of the British drugmaker. The proposal would have required advance shareholder approval for large acquisitions.
Amazon.com – Amazon will offer incentives to entrepreneurs to set up their own small package delivery businesses. Amazon showed off Prime-branded vans and uniforms for potential participants at a media event in Seattle.
Equifax – Equifax struck a deal with the banking regulators in eight states that avoids fines for the credit reporting agency’s September 2017 data breach. The agreement calls for Equifax to perform an extensive assessment of cyberthreats and improve processes for fixing security issues.
Madison Square Garden – The company said it is exploring separating its sports businesses from its live entertainment businesses. The sports business would include the NBA’s New York Knicks and the NHL’s New York Rangers as well as other teams owned by MSG, while a second business would own Madison Square Garden, Radio City Music Hall, and other venues.