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| The Dow is coming off its biggest weekly drop since January, the S&P 500and Nasdaq since March. This coming week features another earnings onslaught as well as a two-day Fed meeting beginning tomorrow. (CNBC) |
| Teva Pharmaceutical (TEVA) has agreed to buy the generic drug business ofAllergan (AGN) for $40.5 billion. Concurrently, Teva has withdrawn its proposal to buy rival generic drug maker Mylan (MYL). (AP) |
| U.S. energy companies are planning more layoffs, asset sales, and financial maneuvers to deal with a recent, sudden drop in U.S. oil prices to under $50 a barrel, the lowest level in four months. (WSJ-subscription) |
| Best Buy (BBY) is going to start selling the Apple Watch at more than 100 of its stores beginning in August, and triple that by the holiday season. Best Buy is the first major retail partner of Apple (AAPL) to carry the device. (Reuters) |
| DraftKings, the daily fantasy sports website, is set to announce an added $300 million in new investment. Fox Sports, the lead new investor, is paying about $150 million for an estimated 11 percent stake. (NY Times) |
| The Greek stock exchange remained closed today, but might reopen tomorrow, after a one-month shutdown. Banks reopened last Monday, as a third bailout wound through the political process. (Reuters) |
The Boy Scouts of America is expected today to officially end its longstanding ban on gay scout leaders. But officials said the new policy won't prevent church-led scout groups from choosing adult leaders "whose beliefs are consistent with their own." (USA Today)
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| This morning's lone economic report is out at 8:30 a.m. ET, when the government releases June durable goods orders. Forecasts call for a 2.7 percent increase, following a 2.2 percent decline in May. |
| Dow components Pfizer (PFE) and Merck (MRK) report earnings tomorrow morning. Twitter (TWTR) issues numbers after the bell tomorrow, whileFacebook (FB) reports Wednesday afternoon. |
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| UBS (UBS) posted a better-than-expected second-quarter profit, up 53 percent compared to a year earlier. The bank posted its numbers a day earlier than scheduled to correct what it called "misleading information" in the Swiss media over the weekend. |
| Pearson (PSO) is in talks to sell its 50 percent stake in The Economist, just days announced a sale of the Financial Times. |
| McGraw Hill Financial (MHFI) is in talks to buy data services provider SNL Financial, according to the Wall Street Journal. |
| Verizon (VZ) East Coast wireline workers have authorized a strike, if necessary. Their current contracts expire Aug. 1. |
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| Sony's Adam Sandler comedy "Pixels" pulled in a disappointing $24 millionin its debut weekend, coming just behind the domestic box office winner Marvel's "Ant-Man." (Reuters) |
| Entertainer Dolly Parton has formally opened the doors of the latest addition to her growing Dollywood empire. The "DreamMore" resort offers fans of the theme and water parks a Dolly-themed place to stay. (CNBC) |
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