The Federal Trade Commission said Monday it plans to sue to block Edgewell’s $1.37 billion acquisition of shaving start-up Harry’s, citing competition concerns in the consumer shaving space. The deal, announced last May, would give Edgewell access to Harry’s data and subscription base. By the time Harry’s announced its sale to Edgewell, it did roughly half its sales in stores like Target and Walmart. The FTC announcement caught some industry insiders by surprise, given Harry’s small hold of the

Fiat ChryslerWhat’s old was new again in Sunday night’s Super Bowl ads. Every year, the question comes up again: Are Super Bowl ads really worth it for brands? NostalgiaA slew of the Super Bowl spots leaned heavily on the nostalgic. PoliticsPolitical messages didn’t take up much airtime during the Super Bowl but were a novel addition to this year’s lineup. The halftime show featured Jennifer Lopez and Shakira in the first time two Latina artists shared the Super Bowl stage.

Shares of Tesla soared as much as 18% on Monday after Argus Research raised its price target to $808 from $556. It also raised its earnings per share estimate to $8.01 from $5.96 and expects that to double by 2021. Tesla said Jan. 3 that it delivered 92,550 Model 3 cars and 19,450 Model S and X vehicles during the fourth quarter. It was expected to deliver 87,900 Model 3, 9,800 Model S and 9,300 Model X vehicles. Tesla is among one of the biggest stocks to short, and investors betting against th

World Health Organization (WHO) Director-General Tedros Adhanom Ghebreyesus gestures during a press briefing on evolution of new coronavirus epidemic on January 29, 2020 in Geneva. “For too long, the world has operated on a cycle of panic and neglect,” Tedros said, according to a transcript of his remarks. At an executive board meeting in Geneva, Tedros urged the World Health Organization’s 196 member countries to “invest in preparedness,” not “panic.” He added that funding for outbreak prepared

“When in reality, people can take measures to protect themselves against the flu, which is here and prevalent and has already killed 10,000 people.” That compares with a mortality rate of 0.095% for the flu in the U.S., according to CDC estimates for the 2019-2020 flu season. Though some health-care professionals and analysts believe the number of coronavirus cases to be much higher, which would mean a lower mortality rate. “I think we’re going to find that the mortality number is going to be lo

At the same time, some will look to offload money, hoping to avoid a luxury tax bill. According to league sources who spoke to CNBC, Rockets owner Tilman Fertitta is seeking to shed additional salary off the team’s nearly $140 million payroll hoping to avoid a luxury tax. The way the tax system works is the NBA penalizes a team when its payroll rises above $132 million for the 2019-20 season. From there, the tax will increase 50 cents for each additional $5 million a team is over, according to t

Dr. Anthony Fauci of the National Institutes of Health told CNBC on Monday that a quarter of China’s coronavirus cases require intensive treatment. “About 25% of them have very serious disease, requiring relatively intensive or really intensive care,” said the director of the NIH’s National Institute of Allergy and Infectious Diseases. China’s National Health Commission said Monday that the confirmed coronavirus cases in China increased to 17,205. The World Health Organization said there’s been

People in face masks in an Apple store during an outbreak of the 2019-nCoV coronavirus, which started in Wuhan in December 2019. With Apple’s 42 stores closed until at least Feb. 9, Citi estimated the company’s worst case scenario, where sales in China go to zero. “Each week of no China sales is $850 million of sales or a reduction of -1.3%. Should the situation elongate to a month it would represent $3.4 billion or a reduction of -5.2% [for Apple’s total sales],” Citi said in a note to investor

Risks to the rally: What investors need to knowStocks rebound after Friday’s big sell-off, but can investors fully trust the bounce back? Discussing Monday’s market action, with Liz Young, BNY Mellon director of market strategy; Josh Brown, Ritholtz Wealth Management; Joe Terranova, Virtus Investment Partners; and Sarat Sethi, Douglas C. Lane & Associates.

Michael Bloomberg unveils $5 trillion tax plan aimed at wealthyCNBC’s Robert Frank reports on presidential candidate Michael Bloomberg and his $5 trillion plan to tax the wealthy and corporations. Politico’s Ben Smith also weighs in.

Why the Electoral College existsMillions of Americans voted in the 2016 presidential election, but only a handful of people actually elected the president. The Electoral College dates to the Constitutional Convention in 1787 and has since been the body that selects the president. Some argue that the Electoral College impedes democracy while others say it promotes it. Watch the video to find out why the Electoral College was created.

Nike — The shoe giant rose 4.3% after UBS upgraded the stock to buy from neutral and JPMorgan added Nike to its “analyst focus list.” Sysco — Shares of Sysco dropped more than 6% after the company missed Wall Street’s estimates for its quarterly revenue. Gilead Sciences — Gilead Sciences rose 4.6% on Monday morning after the company announced it is offering an experimental drug to treat the new coronavirus. Check Point Software Technologies — Shares of the software company dipped 1.3% on the bac

Veterans Affairs Department Deputy Secretary James Byrne was fired Monday, amid controversy over the department’s handling of a sexual assault allegation by a House staffer visiting a VA facility last year. Before he was confirmed for his post in a 88-11 Senate vote, Byrne served since August 2018 as acting deputy secretary of the VA. VA Inspector General Michael Missal, who investigated Goldstein’s claims, last month wrote Wilkie to dispute the idea that her allegations were “unsubstantiated.”

Former Aetna CEO Mark Bertolini said he is being forced off the board of CVS Health, the Wall Street Journal reported on Monday. Bertolini has served on the CVS board since November 2018, when CVS purchased Aetna for $69 billion. Bertolini said he was willing to remain on the board and that the integration between CVS and Aetna “is far from over,” according to the Journal. CVS Chairman David Dorman thanked Bertolini “for his contribution to the successful integration of Aetna” in the statement a

That’s because of the Electoral College. The Electoral College chooses the president based on state vote totals, and recent history has shown the winning candidate for president does not need to earn the most individual votes to win the Electoral College vote. Proponents argue that the Electoral College ensures that the wider American population is represented in national elections. Watch the video above for more on why the Electoral College exists and what the Supreme Court is weighing about me

Google CEO Sundar Pichai speaks during signing ceremony committing Google to help expand information technology education at El Centro College in Dallas, Texas, October 3, 2019. Wall Street analysts are hoping shares of Alphabet continue their momentum when the internet giant reports its fourth-quarter earnings report on Monday after the bell. The stock is up 7% since January 1 and 11% since the company’s previous report in October which missed estimates disappointing investors. This will be CEO

Amazon CEO Jeff Bezos is being sued for defamation by Michael Sanchez, the brother of his girlfriend, Lauren Sanchez. The lawsuit accuses Bezos of spreading false rumors to journalists that Michael Sanchez had leaked nude photographs of Bezos to the National Enquirer. The lawsuit seeks unspecified damages and does not offer any proof that Sanchez never had access to the photos of Bezos. In the lawsuit, Michael Sanchez claims his sister approached him about leaking information about her affair to

It briefly surpassed that milestone on Friday and had also topped $1 trillion for a stretch back in September 2018. One trader isn’t buying into the Amazon story here, though, preferring one of its trillionaire peers. I think it’s one of the best long-term investments out there,” Danielle Shay, trader specialist at Simpler Trading, said Friday on CNBC’s “Trading Nation.” They got the JEDI contract from the [Department of Defense] last year — that was a hug win, especially over Amazon. For Alpha

President Donald Trump’s impeachment trial is scheduled to resume Monday, with House managers and the defense gearing up to present closing arguments to the Senate. The trial resumes a day before Trump delivers his State of the Union address to Congress. The vote on whether to remove Trump from office is scheduled for Wednesday. The GOP-controlled Senate is unlikely to remove the president from office. The House voted to impeach Trump on Dec. 18 on articles of abuse of power and obstruction of C

(Photo by Nicholas Hunt/Getty Images)A filmed version of the Tony Award-winning musical “Hamilton” will arrive on the big screen in 2021, creator and star Lin-Manuel Miranda announced Monday. Disney was ultimately tapped as the distributor and will bring the filmed version of the Pulitzer and Olivier-winning musical to movie theaters on Oct. 15, 2021. “I’m so proud of what Tommy Kail has been able to capture in this filmed version of Hamilton,” Miranda said in a statement. We’re excited to partn