Morning Brief

Higher open seen on Wall Street as stocks seek to extend July gains



Futures were higher this morning as the floodgates open for the busiest week of earnings season. The Dow has a three-day losing streak, but the S&P 500 is coming off its first gain in three days and the Nasdaq saw its first gain in four sessions Monday. (CNBC)

This morning’s collection of earnings reports is highlighted by three Dow components: 3M (MMM), United Technologies (UTX), and Verizon (VZ). Today’s after-the-bell reports include AT&T (T), Ameriprise Financial (AMP), Chubb (CB), Stryker (SYK), and Texas Instruments (TXN). (CNBC)

* Eli Lilly plans initial public offering of its Elanco animal health unit (CNBC)

Alphabet (GOOGL) stock was 4 percent higher in premarket after it reported adjusted quarterly profit of $11.75 per share, compared to the consensus Wall Street estimate of $9.59. Revenue also came in above forecasts, rising 25 percent from a year earlier, helped by a 58 percent jump in paid clicks. (CNBC)

* Cramer: Alphabet has broken this troubling trend (CNBC)
* Alphabet CFO reassures spending is focused on core business (CNBC)


North Korea appears to have started dismantling key facilities at its main satellite launch site in a step toward fulfilling a commitment made by North Korean leader Kim Jong Un at his summit with President Donald Trump in June. (AP)

The Wall Street Journal reported Russian hackers broke into the networks of key U.S. power companies last year, possibly causing blackouts. The attack was first detected in the spring of 2016 and continued throughout 2017, the Journal reported.

CNBC has learned that a Trump-supporting super PAC is digging up dirt on billionaire executives and Wall Street titans, including Mark Cuban, who could be potential opponents for President Donald Trump in the 2020 race for the White House.

* Bad news for Trump: Rising GOP chance of losing House (Axios)

Sen. Elizabeth Warren, who emphasized that she is a capitalist, told CNBC's John Harwood in an interview that markets need to work for more than just the rich. The Democrat also spoke on Trump, the midterms and economic inequality.

* Warren isn't ready to talk about impeaching Trump (CNBC)

Ahead of the battle over Brett Kavanaugh’s nomination to the high court, a NBC News-Wall Street Journal poll found support for Roe v. Wade, the 1973 landmark Supreme Court ruling that legalized abortion in the United States, has hit a record high.

CNBC has learned Nike (NKE) will raise salaries for more than 7,000 employees and change how it awards annual bonuses to its global staff in an attempt to address concerns about pay equity and corporate culture.

At least 50 people are dead and several others are injured after a wildfire swept through a small resort town near Athens and trapped families behind walls of smoke and flames. The fire was by far Greece’s worst since 2007. (Reuters)

A joint filing by the federal government said more than 450 immigrant parents who were separated from their children when they entered the U.S. illegally are no longer in the country though their children remain behind. (Reuters)

A new study suggested rising temperatures linked to human-caused climate change could lead to increasing suicide rates in the United States and Mexico. Comparing historical temperature and suicide data, researchers found a strong correlation. (USA Today)


Whirlpool (WHR) missed estimates by 49 cents with adjusted quarterly profit of $3.20 per share, and the appliance maker’s revenue was also shy of forecasts. Additionally, Whirlpool cut its full-year guidance, as it experiences higher costs and weakness in international markets.

TD Ameritrade (AMTD) beat estimates by nine cents with adjusted quarterly profit of 89 cents per share, with the online brokerage’s revenue also coming in slightly above Street forecasts. The company also reported a bigger than expected increase in client trading activity.

GlaxoSmithKline (GSK) reported upbeat study results for a two-drug HIV treatment, which worked as well as current standard therapy involving three drugs. The study showed the treatment equally as effective as the triple therapy even in patients with relatively high levels of the HIV virus.

The cost to insure Tesla (TSLA) debt holdings against possible default is at its second highest level ever, according to the Wall Street Journal, with the cost of a credit default swap contract now at $5.96 per $100 dollars of the automaker’s debt.

UBS (UBS) reported a better than expected 9.4 percent increase in net profit compared to a year earlier. However, analysts are noting that the Swiss bank did see weakness in its key wealth management unit.

Vitamin Shoppe (VSI) named Godiva Chocolatier executive Sharon Leite as its new chief executive officer. Leite, who also worked at retailer Pier One (PIR) for nearly 10 years, will join the health products retailer in late August.


A massive maze inspired by Netflix (NFLX) favorite "Stranger Things" has been unveiled in Lafayette, Indiana. Created by Exploration Acres, the maze sprawls across 20 acres and features telekinetic heroine Eleven at the center. (Mashable)