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://view.response.cnbc.com/?qs=0a71e6f94f1823bbaf6774ee149051670d1594e7e3e13f323da29266d11d73e7c62125ce1d6962d9e7faf8b42a3346840fe1b8c3e1b60ae3c28e8f7b899ba97bCNBC | Morning Squawk To view this email as a web page, click https://view.response.cnbc.com/?qs=0a71e6f94f1823bbaf6774ee149051670d1594e7e3e13f323da29266d11d73e7c62125ce1d6962d9e7faf8b42a3346840fe1b8c3e1b60ae3c28e8f7b899ba97b here. https://click.response.cnbc.com/?qs=c1308f503869189844493c638689617bd05666b2b7cb116956a54b51db59f31a504199a9d64f557124232bfc1310ba50b3e18d703d7e8b2c https://click.response.cnbc.com/?qs=c1308f5038691898077686449a97135aa4a67f26dab7daaa9f405712208299b24f544fe9b526a9927804318f9fc780aadfe66076328add55 BY THE NUMBERS U.S. stock futures https://click.response.cnbc.com/?qs=c1308f5038691898b14adb9138bf277f999d585ed624d86e051d3777003d98edda18fa4b9d9d8a9460567f7c46db762bf0b4e3cfc5bef86d were under pressure and https://click.response.cnbc.com/?qs=c1308f503869189800396d34bc901542e3212a15827c5d3d698c337e9ca93f3602e7cfa58d9b4991e6ef076f766f732cba49d1d691ba28c2 so was the dollar this morning after President Donald Trump's https://click.response.cnbc.com/?qs=c1308f5038691898fbed082486a023b2a8ca98c16676c2735ca34aa3219696693e8f3a858eb25d12273cd356d75aeb972119f0e3a88db1a5 abrupt firing of FBI Director James Comey last night raised concerns over whether it may create a distraction and delay the White House's economic agenda in Congress. (CNBC)Futures were also pressured by the premarket drop in Dow stock Disney (DIS). The media and theme park giant late Tuesday reported quarterly earnings that beat estimates. But https://click.response.cnbc.com/?qs=0d0724fa43363edc9c2e32279633d62c0570d58e0c784968fd100ac638a3c3f4d9d8cdd37fd783375a05c3a777bee87a448eb213b8196623 revenue missed , while concern persisted about higher programming costs at ESPN. (CNBC)Yelp (YELP) was plunging more than 25 percent in the premarket after https://click.response.cnbc.com/?qs=0d0724fa43363edc4b3b9e94095faae487345e031bc8845a189f3c7914b02c97d534460ec7e2a3741423c860bd29a8124169a48f21c59d59 missing estimates on revenue and forward guidance. While delivering a smaller than expected loss, the online review site did cite difficulties in local account retention. (CNBC)Snap (SNAP) reports its https://click.response.cnbc.com/?qs=0d0724fa43363edc66dc12ca23e6a960a56295bb9b308a3235265e572404a2e0b8b77d6d1d6211184b5978c074a7f703313b52e695481d19 first quarterly results as a public company after the bell this afternoon. Analysts expect a 12 cent per share loss. Investors want to see whether Facebook's knockoff features have hurt Snapchat's user growth. (CNBC)Twenty-First Century Fox (FOXA) https://click.response.cnbc.com/?qs=0d0724fa43363edc96df3a0e849d004f58627c6b272474f62625e44b38b35737e6a855495c2ef6f6282c0b978ca01a1326b8bcad06b58505 reports earnings after the bell for the first three months of the years, before the firing of Fox News host Bill O'Reilly in April after sexual harassment allegations. Estimates call for earnings of 48 cents per share. (Zacks.com)On today's economic calendar, April import and export prices are out at 8:30 a.m. ET. Weekly data on oil inventories are released at 10:30 a.m. ET. The latest federal budget statement is issued at 2 p.m. ET. Regional Fed presidents Eric Rosengren and Neel Kashkari speak this afternoon.The gains are slow and small, but home loan volume https://click.response.cnbc.com/?qs=0d0724fa43363edcb977f7833ec7ea25e480c0934dbdbff23504a06350c0c783a111a13131b1bf86368fccbf9d796b50b8d5ae84e9394643 is beginning to improve again . Last week, total mortgage application volume increased 2.4 percent, with refinances up 3 percent. However, refis were 32 percent below a year ago when rates were lower. (CNBC) https://click.response.cnbc.com/?qs=0d0724fa43363edcc7b61a94bfa37640587ea9b5ccc1fc451bcc70e5602bae6442a0f5c3cb6d67ade1293c387ee3408d84a8060c0742fd39 https://click.response.cnbc.com/?qs=0d0724fa43363edca6b08af46b179aa9a2bbda5ae007eb634a911caee6de5b84e6a737ca03cd94f296e58c4567287a59796e83d1eb908139 https://click.response.cnbc.com/?qs=0d0724fa43363edcbd498b95de8ed2905a503efb2f925a08d3a5918f958692446739798590d4463e71eb92bd9d28ccf41da61a6a8ef39a12 IN THE NEWS TODAY Justice Department officials said Trump's dismissal of Comey, whose agency was conducting an investigation over Russia, https://click.response.cnbc.com/?qs=0d0724fa43363edc629a57bc760716450114d084d574e85ca9540e7747c0d53ec98459e76466b896d5fd2d311b93185d502d6c064bb37a36 was over the mishandling of the Hillary Clinton email investigation.The administration said the FBI's Russia probe https://click.response.cnbc.com/?qs=0d0724fa43363edc9de0815fa200e1517e727ee65a1970049c0c1f410d5d0601bbcdcd173666fdfe0d99cba9b4ac1800e9940716befb4d91 was not a factor in the Comey dismissal. (CNBC) https://click.response.cnbc.com/?qs=0d0724fa43363edcdf06c50f8b7f90991ed3c589b2d0f471733aae9f0f13871355f982d6d84209a04ccba0ede1346050d98b36f04dc830bf Calling Comey's firing 'Nixonian,' Democrats were quick to call for a special prosecutor over alleged Russian election interference and possible Trump campaign ties to Russia. Republicans on Capitol Hill https://click.response.cnbc.com/?qs=0d0724fa43363edce16d8adcad7084c034c3c7f95f2987f7352318d310d35f70af2ea972e6bdef6d36a796be86575d39f63a409c97291134 are divided. (NBC News & Vox)Preet Bharara, the former "sheriff of Wall Street" as U.S. Attorney for the Southern District of New York, https://click.response.cnbc.com/?qs=0d0724fa43363edca11d4535fde29295411166092085ec76759b97c823a188b67e66d42d869dded3b9002b3109322207e6029306528b5732 said he's troubled by the timing of Comey's dismissal. Bharara was fired by Trump in March in a purge of U.S. attorneys. (CNBC)The crisis in Syria tops the agenda when Secretary of State Rex Tillerson https://click.response.cnbc.com/?qs=0d0724fa43363edcff3912ae6a18a4230f08593d47c8a5ae11e259239e1a08dfbc3c90e8647c3f33d56c4596ac146274c44563877280e67a sits down today with Russia's foreign minister in Washington today. Trump is expected to drop in this morning. (USA Today)Ford's (F) board of directors is extending its scheduled meetings this week https://click.response.cnbc.com/?qs=0d0724fa43363edc44bd76f9ecb2fb0d3a874a644980666a1a8b2efe6962b0e1048f01abf004478b9791e27eefd825a3c9f104f74f87ee94 so it can press CEO Mark Fields to clarify his strategy as the company's stock price languishes and its U.S. market share recedes. (WSJ)Tesla (TSLA) is beginning https://click.response.cnbc.com/?qs=0d0724fa43363edce6971c679c9c81b11df615e1c240cdc1b3a662028cbcf2532c25e7e30c7286ff9cfcd62a9cf32a37db760a20c793147a to take orders today for its solar roof tiles, which are set to be rolled out in the U.S. this year, CEO Elon Musk said in tweets in the early hours of this morning. (CNBC)Amazon (AMZN) https://click.response.cnbc.com/?qs=0d0724fa43363edca48d8475e2877dd88059b7424754df480515bc6b682e7cafa9f54cc6379038345699972c3d693908a99b0d95bf4602fd is offering $250,000 to teams who invent next-generation robots for its fulfillment centers. Sixteen finalists have been chosen for the Amazon Robotics Challenge in Japan in July. (CNBC)Apple (AAPL) https://click.response.cnbc.com/?qs=0d0724fa43363edcdea02cfa4d8dd350dc284ca8baebe582aa4f8d75d5ff0615fe45000fa00f14db72ee88b32b0ebb93dc21ab87b13ba366 has acquired an app and sleep monitoring device Beddit. The Beddit website is still up and running this morning, with an updated privacy policy saying "personal data will be collected, used, and disclosed in accordance with the Apple Privacy Policy." (CNBC)Microsoft Build 2017 https://click.response.cnbc.com/?qs=0d0724fa43363edcb9b340a04c0a5cecdd646a22c77e2f210b4e27a76efb0d387f1c6bbbcccea7931c0e354737bf009560f3b9eff60e913e kicks off this morning in Seattle, a homecoming for the Redmond, Washington-based tech giant after years of holding its annual developers' conference in San Francisco. (USA Today) https://click.response.cnbc.com/?qs=0d0724fa43363edccf276f59ff047de95eaa98cd8e2899e25499e33f700be8f2a534d34bec5c7e065dccc4fb78f9df3113577e2bf1845253 Encouraged by its return on a $100 million bet it made on the Motor City three years ago, JPMorgan (JPM) is planning an additional $50 million investment in Detroit's revitalization efforts. (WSJ)STOCKS TO WATCH Priceline (PCLN) reported adjusted profit of $9.88 per share for its latest quarter, beating estimates of $8.89, with revenue for the online travel company very slightly below forecasts. Wall Street is also focusing on weaker than expected current quarter earnings guidance. TripAdvisor (TRIP) missed estimates by 2 cents with adjusted quarterly profit of 24 cents per share, and the travel review website operator's revenue also fell below forecasts even though it saw a nearly 6 percent increase in click-based ad revenue. However, TripAdvisor also said it is seeing a recovery in per user revenue. Electronic Arts (EA) came in 10 cents above estimates with adjusted quarterly profit of 85 cents per share, while the video game maker's revenue was in line with forecasts. EA saw particularly strong results for digital game downloads, which have higher profit margins. Separately, the company approved a $1.2 billion stock buyback. Nvidia (NVDA) reported quarterly profit of 79 cents per share, 13 cents above estimates, and the graphics chip maker's revenue was above forecasts as well. Nvidia saw strong demand for its flagship chip products, and also benefited from its diversification into the artificial intelligence and autonomous driving markets. News Corporation (NWSA) reported adjusted quarterly profit of seven cents per share, two cents above estimates, while the Wall Street Journal publisher saw revenue beat estimates as well. The results were boosted by digital subscriber growth at the Journal, among other factors.Toyota (TM) forecast a 20 percent drop in profit for the current fiscal year, due to a rising yen and higher marketing costs in the U.S. market. Southwest Airlines (LUV) has moved to a new technology platform for its bookings, replacing a 30-year old system, and reported that the transition has gone smoothly so far.Abercrombie & Fitch (ANF) is working with investment bank Perella Weinberg to field takeover bids from other retailers, according to a Reuters report. However, sources familiar with the situation say there is no certainty that any deal for the teen apparel retailer will happen.WATERCOOLER Crocs (CROX) were up sharply in the premarket after surging 4.2 percent Tuesday. A new report said the shoes are https://click.response.cnbc.com/?qs=0d0724fa43363edc39dedfe9c6cdf8bdd9c4be13f92d6e99ba007b587181d707b70cecbbdbf87a261f0a92dcebd49373d7ce3e5d576d7ce5 "flying off the shelves" in the resale market. A new ad campaign featuring Drew Barrymore and John Cena may be the reason. Crocs this morning beat estimates on quarterly earnings and revenue. (CNBC)Proctor & Gamble's (PG) Gillette revamped its subscription-based shaving razor service https://click.response.cnbc.com/?qs=0d0724fa43363edc1180890fd78858683a997a1c6cc0d24a2dad9b6702fb6c5fce9cf7f04966eb80a023657b212f5488be129e2a214dd08d to include a text-to-order feature , the latest move in its battle with Unilever's Dollar Shave Club. (CNBC) CONTRIBUTORS https://click.response.cnbc.com/?qs=0d0724fa43363edc2c2d8aef41605fc1076a2f7452bf87e038c7cb0d7fd00f27a747e94a8927bd52b30810f96cae5f1700434e2a339c0b7f https://click.response.cnbc.com/?qs=0d0724fa43363edc2c2d8aef41605fc1076a2f7452bf87e038c7cb0d7fd00f27a747e94a8927bd52b30810f96cae5f1700434e2a339c0b7f Matthew J. BelvedereSenior Producer https://click.response.cnbc.com/?qs=0d0724fa43363edccb317ee5ae1506f3992c573afbefbe2eb5a0a3efcde76bf67e4b2fc3aa40d017e401a5c4c223465d6b426500096233e9 @Matt_Belvedere https://click.response.cnbc.com/?qs=0d0724fa43363edcc4aaafa4393d42e58a2cab321e753884f022c4c12e190dbae55b456854366d9b09d61ddfd55ad6a9497712dc9e453e0c https://click.response.cnbc.com/?qs=0d0724fa43363edcc4aaafa4393d42e58a2cab321e753884f022c4c12e190dbae55b456854366d9b09d61ddfd55ad6a9497712dc9e453e0c Peter SchacknowSenior Producer https://click.response.cnbc.com/?qs=0d0724fa43363edc9d7c18f7fcb7936ba3358f49ff657fcb5e3d6e6ea759564721da3cacd85822be327738aaf5b1f06c32b9d12ac309ffa1 @peterschack Feedback We value your input—use https://click.response.cnbc.com/?qs=0d0724fa43363edc22bf08ad7628e85c511681c93eed9970aed6aa0ae5e9628ff5a57e4a4dff97f7e567876e930585582c4185a2a524abd1 our simple form to let us know what you think. 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