Morning Brief

What to watch today: Dow to rise, merger Monday's big deals and Bloomberg enters 2020 race


U.S. stock futures were pointing to a higher open Monday on Wall Street after the Dow, S&P 500 and Nasdaq gained ground on Friday but still broke multiweek winning streaks. However, in the final trading week of November, monthly gains remain strong. (CNBC)

U.S.-China trade talks headlines have been keeping investors on their toes. On Sunday, in the Chinese territory of Hong Kong, pro-democracy candidates won big in local elections in a signal that voters support the monthslong anti-government protests that have, at times, turned violent. (CNBC)

There are no economic reports on today's schedule. While there are no major companies out with earnings this morning, Agilent (A), Ambarella (AMBA), Hewlett Packard Enterprise (HPE), Palo Alto Networks (PANW), and PVH Corporation (PVH) issue quarterly results after-the-bell. (CNBC)

Charles Schwab (SCHW) announced plans today to buy discount brokerage rival TD Ameritrade (AMTD) in an all-stock deal valued at $26 billion. Both stocks were under pressure this morning after surging last week when CNBC first reported the talks. (CNBC)

French luxury giant LVMH has reached a deal to buy iconic New York jeweler Tiffany & Co. (TIF) for $16.2 billion in cash, or $135 per share. Tiffany shares, up another 6% in premarket trading Monday, closed more than 30% higher on Oct. 28 after LVMH made a $120-per-share offer. (CNBC)

Shares of U.S.-based Medicines (MDCO) were soaring 22% in the premarket after the company said it will be bought by Swiss drugmaker Novartis (NVS) for $9.7 billion, or $85 per share, in cash. Novartis is buying Medicines to acquire its injectable cholesterol drug inclisiran. (Reuters)


Mike Bloomberg has officially entered the 2020 Democratic presidential race, launching a multimillion dollar ad campaign following weeks of speculation about whether the billionaire businessman and former New York City mayor would join the already-crowded field. (CNBC)

* Bloomberg News won't investigate Mike Bloomberg or his Democratic rivals during primary (CNBC)

Secretary of Defense Mark Esper has asked for the resignation of Navy Secretary Richard Spencer amid controversy over the handling of a case involving a Navy SEAL convicted of illegally posing for pictures with the corpse of an ISIS fighter. (CNBC)

The lawyer for an indicted business associate of Rudy Giuliani said his client is prepared to testify under oath that aides to Rep. Devin Nunes, the top Republican on the House Intelligence Committee, scrapped a trip to Ukraine this year when they realized it would mean notifying Democratic Chairman Rep. Adam Schiff. (CNBC)

Uber (UBER) was stripped of its license to operate in London today. As part of its decision not to renew Uber's license, Transport for London cited a "pattern of failures" that had "placed passenger safety and security at risk." Shares of Uber were losing about 6% in the premarket. (CNBC)

Tesla CEO Elon Musk said last night the electric auto maker has received 200,000 "orders" for its Cybertruck, following last week's embarrassing debut. After falling 6% Friday, shares of Tesla were up nearly 5% in Monday's premarket. (CNBC)

"Minecraft" is getting a makeover to bring some realism to the video game despite the wild success with its minimalist look. Developer Mojang, which Microsoft (MSFT) bought in 2014, is teaming up with chipmaker Nvidia (NVDA) on the effort. (CNBC)

Tim Berners-Lee, creator of the World Wide Web, is officially launching his plan to "fix" the internet. The World Wide Web Foundation, a nonprofit campaign group set up by Berners-Lee, has secured the backing of tech giants Facebook, Google and Microsoft. (CNBC)

Taylor Swift took the stage Sunday night and sang hits from her music catalog at the American Music Awards, where she was honored with the Artist of the Decade Award. The pop star is locked in a feud with music industry executives Scott Borchetta and Scooter Braun. (CNBC)


HP (HPQ) issued a new rejection of Xerox's (XRX) takeover interest, telling the office equipment maker in a letter that it did not have faith in Xerox's ability to raise enough cash.

Amazon (AMZN) filed a lawsuit contesting the Pentagon's award of a $10 billion cloud computing contract to Microsoft (MSFT).

American Eagle (AEO) was downgraded to hold to buy at Loop Capital Markets, which pointed to slightly weaker sales and expense pressure for the apparel retailer.

Wendy's (WEN) was upgraded to buy from hold at Stifel Nicolaus, which is expressing confidence in the restaurant chain's sales trends and earnings drivers.


Disney's (DIS) "Frozen II" catapulted to the top of the weekend box office with a $127 million opening-weekend haul in the U.S. and Canada. Internationally, the film sold $223 million in tickets, bringing its global total to $350 million for its first three days in theaters. (CNBC)