Stocks should rally if the U.S. and China agree to new negotiations and a ceasefire in the trade war, but the economic impact of tariffs will continue.Market Insiderread more
More than 300 companies are talking to government officials in Washington about how detrimental the trade war is.Marketsread more
Powell stresses the central bank's independence in a speech that comes amid continuous pressure from the White House to cut interest rates.The Fedread more
In a text message, Grisham confirmed to CNBC that she will still be working for the first lady even as she takes on her new roles.Politicsread more
Acting Customs and Border Protection Commissioner John Sanders is resigning amid the furor over the Trump administration's treatment of migrant children.Politicsread more
NBC is taking the office back from Netflix as it seeks to bolster its own streaming service launching in 2020.Technologyread more
Wayfair employees plan to walk out tomorrow, after no action was taken in response to their opposition to the company supplying border detention camps with beds for children.Retailread more
Micron beat analyst estimates on earnings and revenue for its fiscal third quarter of 2019.Technologyread more
Omarosa Manigault Newman, who had been a senior advisor to President Donald Trump before her firing, was sued for allegedly failing to file required financial disclosures.Politicsread more
San Francisco on Tuesday became the first city in the country to ban e-cigarettes after city officials voted in favor of an ordinance that prohibits the sale of any...Health and Scienceread more
See which stocks are posting big moves after the bell on June 25.Market Insiderread more
Kellogg is selling its Keebler, Famous Amos and fruit snacks businesses, making it the latest Big Food company to look to pare down to focus on its core.
The maker of Special K cereal said Monday it is focusing on its morning foods, snacks and frozen foods brands, which it will consolidate into one unit. Brands like Eggo waffles and Froot Loops comprise 80 percent of the company's revenue.
"We need to make strategic choices about our business and these brands have had difficulty competing for resources and investments within our portfolio," Chairman and CEO Steve Cahillane said in a statement. "Yet, we wholeheartedly believe these iconic and beloved brands can thrive in the portfolio of another organization that can focus on driving growth in these particular categories."
The reorganization is part of Kellogg's previously announced cost-saving program Project K. Kellogg launched Project K in 2013 to save up to $475 million annually by 2018. As part of that program, Kellogg last year said it would switch from delivering directly to stores to delivering through warehouses.
Other brands up for sale include Murray and Mother's cookies and Stretch Island fruit snacks.
Shares of Kellogg closed down a little over 1 percent, giving it a market capitalization of $22.3 billion. Year to date, its shares are down 5.41 percent.
Other big food companies, which are struggling with slowing growth, are also paring down to be more nimble as they combat their smaller competitors like Kind Bar. Campbell Soup is selling its fresh food business and Arnott's cookie and crackers. Kraft Heinz recently announced the sale of its Indian food business, Complan.