IN THE NEWS TODAY
President Donald Trump said he plans to announce this afternoon his decision on whether to
stay or leave the Paris climate agreement. Despite disagreement among his closest advisors, he's expected to pull out. (CNBC)
In favor of the climate accord, more than two dozen CEOs have
signed a letter that appeared in a full-page ad in today's New York Times and Wall Street Journal. Apple's Tim Cook reportedly called the White House on Tuesday. (NBC News)
Tesla (TSLA) CEO Elon Musk is threatening to
stop advising the president if he were indeed to withdraw from the Paris climate deal. Musk, also founder of SpaceX, is on Trump's manufacturing jobs council, strategic and policy forum, and infrastructure council. (CNBC)
Russia said President Vladimir Putin sees "
great significance" in the Paris agreement, but warned it would be less effective without the U.S. Meanwhile, China said it's going to stick with its commitments on climate change. (Reuters)
Fired FBI Director James Comey is expected to testify in public before the Senate Intelligence Committee next week after having been "cleared for takeoff" by the special counsel overseeing the investigation into Russian election meddling. (NBC News)
Hillary Clinton said Russia likely had
American help to "weaponize" campaign leaks. Trump tweeted that Clinton "blames everybody but herself" for losing the 2016 presidential election. (NBC News)
Joe Biden launched
a new PAC, which would help lay the groundwork for a 2020 White House run. (NBC News)
American taxpayers may have been
overcharged for EpiPens by as much as $1.27 billion over the course of a decade, according to the chairman of the Senate Judiciary Committee. That's nearly three times what Mylan (MYL) settled on with the government. (CNBC)
Facebook shareholders (FB) will confront Mark Zuckerberg over the social network's role in
spreading fake
news at the company's annual meeting today, arguing that democracy is at risk every time it tweaks an algorithm. (FT)
Time Warner (TWX) CEO Jeff Bewkes says existing US regulations covering internet content
unfairlyfavor
Facebook and Google, and his company agreed to be bought by AT&T (T) to better compete with those tech giants. (CNBC)
Sears (SHLD) said some Kmart
customers' credit cards may have been compromised in a data breach. The retailer did not provide specifics on how many, but said no personal information was stolen. (Reuters)
Uber reported improving results:
a $708 million loss for the first-quarter on revenue of $3.4 billion. Separately, the ride-hailing giant announced another executive departure, its head of finance. (WSJ)
Billionaire and Microsoft co-founder Paul Allen, has unveiled
the world's biggest plane, with a wingspan longer than an entire football field. The giant plane is designed to launch rockets into orbit. (CNBC)
STOCKS TO WATCH
U.S. paints and coatings maker PPG Industries (PPG) has decided not to launch a formal bid for Dutch rival Akzo Nobel after repeated informal offers of nearly $30 billion were rejected.
Intelsat's (I) planned $14 billion merger with SoftBank's satellite startup OneWeb is likely to collapse. SoftBank will let the deal fall through after an insufficient number of Intelsat creditors backed the deal.
Hewlett Packard Enterprise (HPE) matched estimates with adjusted quarter profit. While revenue beat forecasts, the networking and data firm saw a significant decline in its key server business. HPE CEO Meg Whitman joins CNBC at 9:10 a.m. ET.
Cybersecurity firm Palo Alto Networks (PANW) reported adjusted quarterly profit of 61 cents per share, 6 cents above estimates. Revenue also beat forecasts as customer additions jumped to near record highs.
Aetna (AET) is being wooed by the state of Connecticut with incentives, in a bid to keep the health insurer from moving out of the state amid reports the company was considering a move.
Wells Fargo's (WFC) municipal debt business with New York City was suspended, with city officials citing last year's sales scandal and a rating of the bank's business in low and moderate income communities that falls below the "satisfactory" level.
Las Vegas Sands (LVS), Wynn Resorts (WYNN) and other casino operators with a presence in Macau may benefit today, after gambling revenue in the Chinese territory jumped 24 percent in May from a year earlier, the 10th consecutive monthly gain.
WATERCOOLER
Florida authorities have released
dashcam video showing Tiger Woods being questioned by police during the golfer's DUI arrest. Woods has said he suffered from an unexpected reaction from medication. (NBC News)
