Morning Brief

Stocks to rise | JetBlue shares jump | Uber reportedly to sell $10B in stock


U.S. stock futures were higher this morning, following the S&P 500's first loss in nine sessions and the worst overall day for the major averages in April. The Dow is coming off two straight losses, although more than half its losses over that stretch came from Boeing's two-day decline. (CNBC)

* Chipmakers' lousy first-quarter earnings could threaten sector's strong stock market gains (CNBC)

JetBlue (JBLU) shares rose after CNBC reported the airline may announce as early as today that it will begin transatlantic service. It called an "all hands" meeting with staff at JFK Airport in New York as well as viewing parties at some of its main hubs, according to a company invitation.

Uber Technologies has decided it will seek to sell around $10 billion worth of stock in its initial public offering, according to Reuters, citing people familiar with the matter. The ride-hailing company will also reportedly make public the registration of the offering tomorrow.

* Lyft shares should only be worth $59 according to valuation guru (CNBC)

The government is out with the March Consumer Price Index at 8:30 a.m. ET. The European Central Bank will issue an interest rate decision and monetary policy statement at 7:45 a.m. ET. The Federal Reserve will release the minutes of its most recent meeting at 2 p.m. ET. (CNBC)

* ECB set to hold steady amid heightened economic risks (CNBC)

On the earnings front today, Delta Air Lines (DAL) will release quarterly earnings before today's opening bell, while retailer Bed Bath & Beyond (BBBY) is out with quarterly numbers after today's closing bell. (CNBC)


Boeing (BA) was accused of defrauding shareholders by concealing safety deficiencies in its 737 MAX jets before the two fatal crashes that led to their grounding. The accusations came in a proposed class action suit filed in Chicago. (NBC News)

Attorney General William Barr said he will release a version of special counsel Robert Mueller's Russia report with redactions "within a week." Barr faced pressure from Democrats to release the nearly 400-page report without redactions. (CNBC)

* Mnuchin battles with Democrats over Trump's tax returns (CNBC)

A group of Senate Republicans is reviving legislation aimed at guaranteeing protections for people with pre-existing conditions. A bill, introduced today, would preserve key provision of Obamacare, which Trump has moved to strike down. (WSJ)

* CVS, Cigna, Humana blame Big Pharma at Senate hearing for high drug prices (CNBC)

European leaders will decide today whether to grant the U.K. another extension to its departure from the bloc, due to take place on Friday April 12. British Prime Minister Theresa May has asked the bloc for a second delay. (CNBC)

Israeli Prime Minister Benjamin Netanyahu secured a clear path to re-election today. With more than 97 percent of votes counted, Netanyahu's conservative Likud party looked likely to muster enough support to control 65 of the Knesset's 120 seats. (Reuters)

The Texas Tech University Health Sciences Center, under pressure from the Department of Education, will no longer consider race as a factor in its medical school admissions process, according to an agreement. (CNBC)

As of Tuesday, 96 people from five states have been infected with the strain of E. coli implicated in the latest outbreak, federal health agencies announced in a statement. The last reported illness began on March 26. (CNBC)

Fraudsters are targeting the HR functions of businesses of all types and convincing employees to swap out your direct deposit banking information to an offshore account. The IRS warned of an uptick in fraud attempts involving payroll. (CNBC)


Levi Strauss (LEVI) reported quarterly profit of 37 cents per share and revenue of $1.44 billion in its first quarterly report since its March initial public offering. Revenue was up seven percent compared to the year-ago quarter.

Procter & Gamble (PG) raised its quarterly dividend by four cents to 75 cents per share, marking the 63rd consecutive year that the consumer products giant has increased its quarterly payout.

Netflix (NFLX) is in talks to buy Hollywood's Egyptian Theater, according to the Los Angeles Times. The venue is best known for hosting special screenings and events, and some see the talks as Netflix's attempt to endear itself to the more traditional side of the movie industry.

AT&T (T) is exploring the sale of its HBO Europe unit in order to pay down debt, according to a report in the Financial Times. The report said Sky, which is owned by NBCUniversal parent Comcast (CMCSA), would be an "obvious buyer".

A bankruptcy judge has deferred a ruling on whether California utility PG&E (PCG) can pay up to $350 million in bonuses to 10,000 employees. The judge said he wanted more details on the utility's plans to prevent future California wildfires.

Nordstrom (JWN) was upgraded to "overweight" from "sector weight" at KeyBanc, with the firm citing several factors including valuation.

Novartis (NVS) was downgraded to "underweight" from "equal-weight" at Morgan Stanley, which said the drug maker faces challenges in its pharmaceutical business following its spin-off of eye care unit Alcon (ALC). (JD) denied reports that it plans to cut up to eight percent of Its workforce. The Information had reported plans for the China e-commerce company to cut up to 12,000 jobs.

WD-40 (WDFC) reported quarterly profit of $1.14 per share, beating estimates by two cents, but the lubricant maker's revenue did fall short of Wall Street forecasts.


Amazon (AMZN) recently upgraded its entry-level Kindle with a couple of new features, including a backlight for the first time in this price range. It's available today, but CNBC's Todd Haselton has been testing it for the past few days and has a few thoughts.