1. Dow set to rise at open after a day of more records
U.S. stock futures were modestly higher ahead of Wednesday's open on Wall Street following another day of record highs for the Dow Jones Industrial Average and the Nasdaq. The S&P 500 was coming off its first drop in three days. None of the major stock measures has posted back-to-back losses in nearly a month, a streak that could end for the S&P 500 given that the index dropped Tuesday. Earnings continue to roll in, with CVS Health out Wednesday with third-quarter profit and revenue that beat expectations.
2. Walgreens considers going private
Walgreens Boots Alliance, a Dow component, is exploring going private in what could be the largest leveraged buyout in history. KKR is one of the firms interested in the deal, sources told CNBC. For Walgreens, a deal to go private would be a chance to get out of the public spotlight as Democratic presidential candidates propose changes to the U.S. health-care system. Shares of Walgreens have declined about 22% over the past 12 months.
3. SoftBank founder: 'My investment judgment was poor'
Japan's SoftBank reported a quarterly loss far larger than estimates, hit by the falling valuations of some of its biggest tech bets such as WeWork and Uber. "My investment judgment was poor in many ways and I am reflecting deeply on that," said Softbank founder Masayoshi Son. Most Uber investors on Wednesday get their first opportunity to sell following May's IPO at $45 per share. Uber plunged nearly 10% to about $28 per share on Tuesday after issuing an over $1 billion quarterly loss.
4. Xerox reportedly thinking about a HP offer
Shares of HP were jumping about 8% in the premarket on word that Xerox is considering a cash-and-stock offer for the much larger PC and printer maker. The Wall Street Journal reports that Xerox has an informal funding commitment from a major bank. As of Tuesday's close, Xerox had a market value of just over $8 billion, less than a third of HP's $27 billion. Last month, HP said it will cut 7,000 to 9,000 jobs by the end of fiscal 2022 as part of a broader restructuring.
5. Impeachment investigators call Trump officials
The three congressional committees are calling high-ranking Trump officials, including outgoing Energy Secretary Rick Perry, to testify Wednesday in the impeachment inquiry into the president's actions regarding alleged pressure put on Ukraine to investigate rival Joe Biden. As USA Today points out, the officials may not show because their departments previously said they would not cooperate. Democratic impeachment investigators want to hear from acting White House chief of staff Mick Mulvaney on Friday, though he's also unlikely to appear.