To view this email as a web page, go to the link below, or copy and paste it into your browser's address window. https://click.response.cnbc.com/?qs=2f8626e07170f4cef99d8215cea79e76daf1cf5e2f0361fa6b5816dc56f07b5abba273a2a31e4719CNBC | Morning Squawk To view this email as a web page, click https://click.response.cnbc.com/?qs=2f8626e07170f4cef99d8215cea79e76daf1cf5e2f0361fa6b5816dc56f07b5abba273a2a31e4719 here. https://click.response.cnbc.com/?qs=2f8626e07170f4ce2a57128e5d1fa949649d38ea0cbf16bcdb1728ae617909dfe3ba18dc0fa2e85c https://click.response.cnbc.com/?qs=2f8626e07170f4ce3f03b399f7b1e1f810d8b4f0de35f49b282648d3c57fac87ea208561f79573fd IN THE NEWS TODAY U.S. stock futures https://click.response.cnbc.com/?qs=2f8626e07170f4cec1884ef516bb7a4e32ffeb450b029a1d1b9095b69fe6ca40a4d143f251d8b084 pared losses this morning, after Dow stocks Wal-Mart (WMT) and Cisco Systems (CSCO) reported better-than-expected quarterly results. But adding pressure was the latest Fed minutes suggesting a https://click.response.cnbc.com/?qs=2f8626e07170f4ce4baf03e9b35f615cb9a00c9bd39c3cc194deb75e7e84d65efa8171b4fd81a520 June interest rate hike was possible . The Dow, up over 100 points ahead of the minutes, swung more than 100 points into the red, before closing Wednesday little changed. (CNBC)Oil prices https://click.response.cnbc.com/?qs=2f8626e07170f4cec9f4ecc37bdcbd5124016dd03c54bc93746532af30ee8e856852b2fbdb5a0468 were sharply lower this morning, pulled down by rising U.S.inventories, a stronger dollar, and surging output from Iran to Europe and Asia. West Texas Intermediate crude settled slightly lower Wednesday, after a volatile session. (Reuters) Authorities https://click.response.cnbc.com/?qs=2f8626e07170f4cee92ab9a1e66d472a863476988301de0a49f2ce876921cc1a18295c1df1ba47d1 were searching near a Greek island for EgyptAir flight MS804, which is believed to have crashed en route from Paris to Cairo early this morning. There were 56 passengers on board, including one child and two infants, along with seven crew and three airline security officers. (CNBC) https://click.response.cnbc.com/?qs=2f8626e07170f4ce2f595c74eb88a8eb6d8c740a8aaeebf164fe0448fa3f21bd0874b648a2d620f6 https://click.response.cnbc.com/?qs=2f8626e07170f4ce5adcd073caa9d5a870a2e8f7863a766a168a1aad72db8dec360a568914c272ab https://click.response.cnbc.com/?qs=2f8626e07170f4cef5d78d459580f02ed52063c0afe0c5bc5b58463f84d35b49ead6e1be8cd8cd76 Bucking the trend of dismal retail earnings, Wal-Mart this morning reported earnings, revenue, and same-store sales that https://click.response.cnbc.com/?qs=2f8626e07170f4ce6d2c97871746086a5c13552694b395dfc190fb00e3094e6231e7bab98e7faff7 beat estimates . Wal-Mart also issued a rosier outlook. Gap (GPS) leads this afternoon's earnings list.Cisco Systems reported late Wednesday earnings and revenue that https://click.response.cnbc.com/?qs=2f8626e07170f4ce200b959c22f883a0bd7bbc1fc7ebe1e1a6967ea01119f239ae8442a1d09f1c3a beat expectations on particularly strong demand for its internet security products. The network equipment maker also issued upbeat guidance. (CNBC)Monsanto (MON) received an https://click.response.cnbc.com/?qs=2f8626e07170f4ce245736065a181209c77cec32627be468986f17f280f3ba3ea620d9896547ba06 unsolicited takeover bid from German drug and chemical company Bayer, though neither company released any proposed terms of the deal. Monsanto currently has a market value of about $42 billion. (Reuters)Tesla (TSLA) https://click.response.cnbc.com/?qs=2f8626e07170f4ce0d8e9d208e4c61e3fd55bce5e5adeeea3698e898f2e384270cb99aad336d5cbb plans to issue $2 billion in new stock to fund the accelerated production of the electric automaker's upcoming Model 3, which has seen overwhelming demand. As of April 21, Tesla said it had received about 400,000 preorders. (CNBC)Tesla chief Elon Musk https://click.response.cnbc.com/?qs=2f8626e07170f4ce60aa93fd3485bf44f7d47fe127af88bbd6747a2ff1ccea89274664ff16cec61d pushed back against claims the company used cheap foreign labor to build one of its facilities. In a tweet, Musk wrote workers got $55 per hour, not the $5 per hour initially reported by The Mercury News. (CNBC)General Motors (GM) https://click.response.cnbc.com/?qs=2f8626e07170f4ce8463257a46d49fb0a4a53e7eae0c9994bb19d8f12d226cde0b5203acb4c6648a is expected to announce plans to compensate owners of SUVs over inflated fuel economy claims. GM temporarily halted sales of about 60,000 new 2016 SUVs because labels overstated their fuel efficiency. (Reuters)Viacom's (VIAB) board of directors https://click.response.cnbc.com/?qs=2f8626e07170f4cedbe8d4e4fd9bc5f660198850e1c71133932dc4f783eadf57c5ba26337f8c4332 has voted to stop paying controlling shareholder Sumner Redstone. The move comes amid the ongoing legal fight over the mental capacity of the 92-year-old Redstone, who already had his pay reduced substantially for 2015. (Variety)Theranos https://click.response.cnbc.com/?qs=2f8626e07170f4ce4ca622c0322e6abfbaf275f9c4886273cefa549fdd19186e3e7798eb3e6e30c7 has reportedly withdrawn the results of all blood tests run on its Edison device in 2014 and 2015. The diagnostic startup, valued at more than $9 billion, has come under scrutiny after media reports questioned the accuracy of its proprietary test methods. (WSJ)The marriage of convenience between Bernie Sanders and the Democratic Party https://click.response.cnbc.com/?qs=2f8626e07170f4ce5525f56d456a513519cd9e408db3db203ac6dc8bcaee663a0e3ec0ecc3fb686a is on the rocks , with the Vermont independent senator threatening to take his millions of supporters of his presidential bid with him in the separation. (NBC News)Facebook (FB) chief Mark Zuckerberg https://click.response.cnbc.com/?qs=2f8626e07170f4cefe4542823a888cb943a763e0f492e3ca66953e77291018dbadd45f84c225904d met with conservatives leaders to try and quell concerns of political bias at the social network. A senior Donald Trump campaign aide who attended tweeted praise for a "great meeting" but said more work needed to be done. (CNBC)Amazon (AMZN) chief Jeff Bezos https://click.response.cnbc.com/?qs=2f8626e07170f4ce72a48efcb1ee8404081071bddd2b93f1518bb91c75187253c7e26fbaa6fc3278 defended his company against repeated jabs from presumptive GOP presidential nominee Donald Trump, who accused Bezos of using his ownership of The Washington Post to influence politicians. (CNBC)Video streaming services from Netflix (NFLX) and Amazon (AMZN) https://click.response.cnbc.com/?qs=2f8626e07170f4ceced5b52b820250fbfa38532f13658268afbaa6ecadb47ed92ec7795b7947c540 could be forced to devote at least 20 percent of their catalogues to European films and TV shows as part of an overhaul of the EU's broadcasting rules. (FT)BY THE NUMBERS With the Fed putting June in play, investors get more economic clues this morning, including weekly jobless claims and the May Philly Fed index at 8:30 a.m. ET, and the Conference Board's index of leading economic indicators at 10 a.m. ET. Fed Vice Chairman Stanley Fischer speaks at 9:15 a.m. ET and New York Fed President William Dudley speaks at 10:30 a.m. ET, events that should also get extra attention thanks to the minutes from the central bank's April meeting. STOCKS TO WATCH Salesforce.com (CRM) earned an adjusted 24 cents per share, a penny above estimates. Revenue also beat forecasts. The business software company raised its full-year forecast as demand for its cloud-based sales and marketing software increases.Urban Outfitters (URBN) matched forecasts by earning 25 cents per share, while revenue above estimates. Quarterly same-store sales rose 1 percent, compared to expectations of a decline. But the apparel retailer warned that May sales have gotten out to a slow start.L Brands (LB) came in 4 cents ahead of estimates with adjusted quarterly profit of 59 cents per share. But revenue missed. The parent of Victoria's Secret also lowered its full-year earnings guidance.American Eagle Outfitters (AEO) reported quarterly profit of 22 cents per share, 4 cents above estimates, with revenue also above forecasts. Sales and profit margins for the apparel retailer have been improving following a restructuring. WATERCOOLER A rare 14.6-carat blue diamond auctioned at Christie's in Geneva for $57.5 million, including fees, becoming the https://click.response.cnbc.com/?qs=2f8626e07170f4ce9136655cc7b244bd03793ed87729c0b63acdcf01f751901e3ca356b5799a3e6b most expensive diamond ever auctioned . The stone, called the "Oppenheimer Blue," followed a record-high $175 million jewelry sale by Sotheby's. (CNBC) CONTRIBUTORS https://click.response.cnbc.com/?qs=2f8626e07170f4ce44c39733773c22941a39e84adcc7bec98c9ae318cea12a3ec2149d4f389e7cbf https://click.response.cnbc.com/?qs=2f8626e07170f4ce44c39733773c22941a39e84adcc7bec98c9ae318cea12a3ec2149d4f389e7cbf Matthew J. BelvedereSenior Producer https://click.response.cnbc.com/?qs=2f8626e07170f4ce84d16ba571bc57722a504ba9060ba42e2f133b7fb48ab3829486b9e4d59ddd03 @Matt_Belvedere https://click.response.cnbc.com/?qs=2f8626e07170f4ce33114d42b6e86b59bde84f6829307198ba72d18f7c854934d89d6a1391713b09 https://click.response.cnbc.com/?qs=2f8626e07170f4ce33114d42b6e86b59bde84f6829307198ba72d18f7c854934d89d6a1391713b09 Peter SchacknowSenior Producer https://click.response.cnbc.com/?qs=2f8626e07170f4cec65f49f94ee371cbd2305b6236b256365ddd7bf2d393d304ed5b7dd339b24412 @peterschack https://click.response.cnbc.com/?qs=2f8626e07170f4ce816730f1fb39dc772ef410e11dcc0f4ca8a898b6dc1dcc100c47707bf3710ae1 https://click.response.cnbc.com/?qs=2f8626e07170f4ce816730f1fb39dc772ef410e11dcc0f4ca8a898b6dc1dcc100c47707bf3710ae1 Tom DiChristopherWeb and TV producer Feedback We value your input—use https://click.response.cnbc.com/?qs=2f8626e07170f4ce332275d948a8f246ff3bd858dee30df25de8513a1b9b96ffcfd993245aed2262 our simple form to let us know what you think. 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