Dow set to drop | Tesla misses big | Biden launches 2020 bid

Dow set to drop | Tesla misses big | Biden launches 2020 bid  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  VIEW IN BROWSER | SUBSCRIBE THU, APR 25, 2019 MORNING SQUAWK Dow futures were sharply lower this morning, largely on weakness in Dow-stock 3M following an earnings miss. AS OF THU, APR 25, 2019 • 07:51 ET Dow Jones Fut 26,597.05 Current: 26,450.00 Change: -91.00 Impl. Open: -140.05 S&P 500 Fut 2,927.25 Current: 2,932.00 Change: 1.25 Impl. Open: 1.75 NASDAQ 100 Fut 7,784.41 Current: 7,866.50 Change: 18.75 Impl. Open: 65.09 Russell 2000 Mini 1,588.13 Current: 1,588.00 Change: -2.60 Impl. Open: -3.53 BY THE NUMBERS Dow futures were sharply lower this morning, largely on weakness in Dow-stock 3M (MMM) following an earnings miss. The S&P 500 and Nasdaq were looking much better after their first down day in four sessions Wednesday. The Nasdaq set its first intraday record high since August, before finishing lower. The Nasdaq and S&P 500 closed at new record highs Tuesday. (CNBC) U.S. manufacturing conglomerate 3M today said it would lay off 2,000 workers globally as it reported a lower-than-expected quarterly profit and cut its 2019 earnings forecast due to worsening performance in key markets. Meanwhile, Amazon.com (AMZN), Intel (INTC), Ford (F), and Starbucks (SBUX) grab the spotlight in today's after-the-bell earnings. (CNBC) * Comcast earnings beat estimates but sales fall short, high speed internet revenue up 10% (CNBC) * Southwest Airlines fearnings take a hit from 737 Max groundings, government shutdown (CNBC) Microsoft (MSFT) shares were soaring in the premarket this morning after blockbuster quarterly results, pushing the company's stock market value over $1 trillion. Earnings and revenue, after the bell Wednesday, beat estimates as Microsoft's cloud business and software subscriptions surged. (CNBC) Facebook's (FB) stock was 8% higher in premarket trading after its top and bottom lines, as well as user numbers, hit record highs during the quarter. The company also said late Wednesday it expects to pay at least $3 billion and possibly up to $5 billion in a privacy-related fine to the FTC. (CNBC) Tesla (TSLA) shares were under pressure in premarket trading after it posted an adjusted loss of $2.90 per share for the first quarter, wider than the 69 cent loss that Wall Street was expecting. The automaker's revenue was below forecasts as well as demand for its electric cars waned. (CNBC) * Tesla should be valued at less than $100 a share, investor says (CNBC) * Elon Musk says Tesla will launch an insurance product in about a month (CNBC) On the data front this morning, the Labor Department is out with initial jobless claims for last week at 8:30 a.m. ET. The government is also out with March durable goods orders at the same time. (CNBC) IN THE NEWS TODAY Joe Biden, who served eight years as Barack Obama's vice president after more than three decades in the U.S. Senate, is launching his third campaign for the presidency. The 76-year-old joins a diverse field of more than a dozen Democrats. (CNBC) * Biden is in the 2020 race here are some of his key policy stances (CNBC) President Donald Trump vowed to battle every subpoena lodged by House Democrats. In recent months, Democratic leaders have issued dozens of requests for information or cooperation from Trump, his administration and his associates. (CNBC) Speaking at an annual conference on drug abuse and addiction, Trump pledged to battle the deadly epidemic of opioid drug abuse "until our job is done," and he claimed progress even though it is unclear whether the crisis has diminished. (AP) * More millennials, Gen Z are dying of opioid overdoses, researchers say (CNBC) Trump's former personal lawyer Michael Cohen told actor Tom Arnold last month that he is not guilty of some of the crimes to which he pleaded guilty to last year after breaking with the president. (CNBC) Russian President Vladimir Putin said North Korean leader Kim Jong Un wants to denuclearize but needs "security guarantees" to do so. Speaking after a high-profile summit with Kim, Putin said Russia favored denuclearization on the Korean Peninsula. (CNBC) Deutsche Bank (DB) and German banking rival Commerzbank have ended their merger talks, saying the combination would not have created sufficient benefits. Reports and speculation regarding a merger had been rife for months. (CNBC) Former Nissan Chairman Carlos Ghosn was granted bail by a court in Tokyo, the second time the court has approved bail since his arrest in November. He agreed to strict conditions such as not contacting his wife unless the court approves. (WSJ) CVS Health (CVS) is about to make it easier to straighten your teeth. The drugstore chain will open "hundreds" of SmileDirectClub locations inside its stores this year, with plans to open more than 1,000 locations over the next two years. (CNBC) Domino's Pizza (DPZ) CEO Ritch Allison said the pizzeria chain seeks to expand its global footprint to 25,000 stores in order to achieve its top objectives. That's nearly 10,000 more locations in addition to its existing pizza joints. (CNBC) STOCKS TO WATCH Chipotle Mexican Grill (CMG) reported adjusted quarterly earnings of $3.40 per share, beating forecasts by 39 cents. The restaurant chain saw comparable store sales rise by a better-than-expected 9.9%, and its digital revenue more than doubled while accounting for 15.7% of sales. PayPal (PYPL) reported adjusted quarterly profit of 78 cents per share, 10 cents above estimates, with revenue matching Street forecasts. PayPal also reported that more than 40 million people made transactions using its Venmo service over the past 12 months, making it one of the most popular financial apps in the country. Visa (V) came in 7 cents ahead of estimates with quarterly profit of $1.31 per share, and the payment network also reported a slight revenue beat as an increase in consumer spending boosted its results. Visa also raised its full-year forecast. On the negative side, Visa did see a slide in the value of transactions made outside a customer's home country. WATERCOOLER Before last month's $768 million Powerball drawing, 24-year-old Manuel Franco was just trying to save $1,000 in the bank. That should no longer be an issue for Franco, who on Tuesday stepped forward to claim the third-largest lottery prize in U.S. history. (CNBC) CONTRIBUTORS Berkeley Lovelace Jr. @BerkeleyJr Peter Schacknow @peterschack Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel   Digital Products Feedback Privacy Policy CNBC Events   © 2019 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS