These are the stocks posting the largest moves before the bell.Market Insiderread more
Allergan shareholders will receive 0.8660 AbbVie shares and $120.30 in cash for each share held, for a total value of $188.24 per Allergan share.Biotech and Pharmaceuticalsread more
Amazon announces that Amazon Prime Day will last for two days, starting July 15.Technologyread more
"What else do you have to do that will actually have to affect the Iranians' calculus?" said Amos Hochstein, who served as U.S. special envoy for international energy affairs...World Politicsread more
Buffett says he has no tensions with 3G Capital, Berkshire Hathaway's partner in troubled Kraft Heinz. 3G co-founder Jorge Paulo Lemann is "a good friend," he adds.Investingread more
The major indexes have stretched to all-time highs and are riding one of their best first halves in decades.Trading Nationread more
FedEx heads into Tuesday afternoon's earnings deep in a bear market. A failure to deliver could mark a massive buying opportunity.Trading Nationread more
SpaceX used its high speed boat called "Ms. Tree" to catch the nosecone its Falcon 9 rocket after Monday's launch.Investing in Spaceread more
FedEx sued the U.S. government, saying it should not be held liable if it inadvertently shipped products that violated a Trump administration ban on exports to some Chinese...Traderead more
After Taylor Swift released her latest music video "You Need To Calm Down," LGBTQ advocacy organization GLAAD saw a surge in donations. The video drew some criticism around...Entertainmentread more
The leaders of Japan and China got off to a tense start but have made significant progress in turning around their relations in recent years.Asia Politicsread more
General Electric's Chairman and CEO Larry Culp said Monday he feels the "urgency" to reduce the company's leverage and will do so through asset sales.
"The stock has been under pressure" during the last two weeks, Culp said, "no doubt about that."
GE shares closed down 6.9 percent in Monday trading, slipping below $8 a share for the first time since March 2009. The stock fell as low as $7.72.
"We need to bring the leverage down," Culp added, and that GE has "got plenty of opportunities through assets sales to do that."
Culp emphasized he will not rush the process of deleveraging even as he feels the pressure to move quickly and decisively. He gave three examples of how GE is freeing up cash: A possible IPO for GE's "tremendous" health-care business, the sale of its transportation business, and the coming exit of the Baker Hughes oil field services business.
"Aviation is our crown jewel," Culp said. While GE believes there are "various options" for how to make use of the strong business, Culp said selling part or all of the business is "not high on" GE's list of options for aviation.
Culp said the decision to remove the company's full-year profit forecast from its most recent earnings report was "another unpopular decision but one that was straightforward."
"We did not have the conviction that we would want, particularly around our power business, as we looked toward the end of the year," Culp said.
GE management is "working hard with the power team" to turn the struggling business around, Culp said. He did not have conviction "to offer up numbers" for how power will end the year but Culp said GE "will in time."
Questions about GE's liquidity are understandable, Culp said, given the company's position. But Culp said GE "put that to rest given that fact the we got $20 billion of cash" on hand from asset sales. Culp also said GE has used only $2 billion of "$40 billion of bank lines."
"That gives us a foundation to really talk to the leverage," Culp said.
As the company has noted previously, Culp said GE "has no plans for an equity raise."
Culp was appointed chairman and CEO on Oct. 1, a month before GE reported third-quarter profits that were sharply below forecasts. Additionally, GE slashed its quarterly dividend to a penny a share in a dramatic first move for Culp. While the cut will free up cash for GE, the overall results gave some on Wall Street conviction that GE shares will continue to fall.
GE shares have fallen more than 50 percent this year.