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 Reactions to President Trump’s Executive Order placing a three-month ban on entry to the U.S. from seven majority Muslim countries have been rippling out across the Atlantic over the past 48 hours — with figures from the UK tech industry adding their voices to a general chorus of dismay. Read More

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A Fed staffer has plead guilty to mining bitcoins at work.

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Tom Price, President Donald Trump's nominee for Secretary of Health and Human Services, received a private placement investment only available to a limited number of investors in the US, according to the Wall Street Journal.

Price told the US Senate Finance Committee in his confirmation hearing that shares of Innate "were available to every single individual that was an investor at the time."

However, according to Innate's CEO, only a few US investors were allowed to buy the stock at a discounted price. The deal was available to all Australian and New Zealand-based shareholders.

The Journal reported that fewer than 20 US investors purchased the stock, which was given at a 12% discount. Price's total investment was worth between $50,000 and $100,000 according to the nominee's financial disclosures.

Price was told about the company by fellow congressman Chris Collins, who had previously invested in the company. Collins told the Journal that he reached out to Price about the investment, inviting him to take part in the deal at a discounted price.

Price said in his testimony that he learned of the company from Collins and decided to make the investment after reading up about the company's business.

Price also maintained at his hearing that his broker at Morgan Stanley executed his investments without his knowledge and he did not know what stocks he owned, however the active investment in Innate seems to contradict that statement.

Democrats have called on Price to be investigated for violations of the STOCK Act, which regulates investments made by members of Congress. Price and his spokespeople have maintained that there was nothing illegal or unethical about the investments.

Price has been involved in crafting legislation dealing with healthcare and his extensive investments in healthcare companies have come under fire.

A vote on Price's nomination by the Senate Finance Committee is scheduled to take place on Tuesday. 

SEE ALSO: Trump's pick for the top US healthcare role got hammered for shady investments into medical companies

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Stocks slid in trading on Monday amidst a swirl of political news and a variety of US economic data releases.

All three major stock indexes finished in the red, marking one of the worst trading days of 2017.

We've got all the major headlines, but first, the scoreboard:

• Dow: 19,923.18, -170.60 (-0.65%) 
• S&P 500: 2,280.66, -14.30 (-0.61%)
• Nasdaq: 5,602.33, -59.46 (-0.83%)

1. Business leaders and CEOs reacted to President Donald Trump's immigration ban from seven predominately Muslim countries. CEOs of the major US banks spoke out against Trump's executive order, as did tech leaders and others.
2. Starbucks CEO Howard Schultz promised to hire 10,000 refugees after the Trump order. The move drew criticism from some online. Schultz was a vocal supporter of Hillary Clinton during the election.
3. Snap — the parent company of Snapchat — will list its stock on the New York Stock Exchange. The company's IPO filing is expected to be released this week. The company is expected to value itself between $20 billion and $25 billion.
4. TempurSealy — the maker of Tempur Pedic mattresses — tanked after it failed to reach an agreement with a key retailer. A statement from TempurSealy said that it was unable to come to an agreement with Mattress Firm to continue to sell its products. The stock fell around 28% in trading.
5. Pending home sales beat expectations. The measure of homes sold but not closed increased by 1.6% in December from the month before, this was ahead of a 1.1% gain expected by economists.
6. Personal spending and PCE inflation met expectations, while personal income came up short. Personal spending jumped 0.5% from the month before in December and core PCE inflation increased 0.2%, both matching expectations. Personal incomes rose by 0.3%, short of expectations of 0.4%.
7. The Dallas Fed Manufacturing index hit its highest level since April 2010. The measure of Texas manufacturing came in at 22.1, well above expectations of 15.0 from economists.

ADDITIONALLY:

Fitbit slashed its guidance and the stock tanked.

Morgan Stanley thinks ESPN can get its mojo back. 

Trump deflected some of the blame for congested airports on Delta.

Here's Business Insider's Alex Heath on what to expect from Facebook's earnings this week.

SEE ALSO: There are a lot of problems with Trump's 20% border tax idea

Join the conversation about this story »

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Stocks slid in trading on Monday amidst a swirl of political news and a variety of US economic data releases.

All three major stock indexes finished in the red, marking one of the worst trading days of 2017.

We've got all the major headlines, but first, the scoreboard:

• Dow: 19,971.13, -122.65 (-0.61%) 
• S&P 500: 2,280.90, -13.79 (-0.60%)
• Nasdaq: 5,613.17, -47.07 (-0.83%)

1. Business leaders and CEOs reacted to President Donald Trump's ban on immigration from seven predominately Muslim countries. CEOs of the major US banks spoke out against Trump's executive order, as did tech leaders and others.
2. Starbucks CEO Howard Schultz promised to hire 10,000 refugees after the Trump order. The move drew criticism from some online. Schultz was a vocal supporter of Hillary Clinton during the election.
3. Snap — the parent company of Snapchat — will list its stock on the New York Stock Exchange. The company's IPO filing is expected to be released this week. The company is expected to value itself between $20 billion and $25 billion.
4. Tempur Sealy — the maker of Tempur Pedic mattresses — tanked after it failed to reach an agreement with a key retailer. A statement from Tempur Sealy said that it was unable to come to an agreement with Mattress Firm to continue to sell its products. The stock fell around 28% in trading.
5. Pending home sales beat expectations. The measure of homes sold but not closed increased by 1.6% in December from the month before. This was ahead of a 1.1% gain expected by economists.
6. Personal spending and PCE inflation met expectations, while personal income came up short. Personal spending jumped 0.5% from the month before and core PCE inflation increased 0.2% in December, both matching expectations. Personal incomes rose by 0.3%, short of expectations of 0.4%.
7. The Dallas Fed Manufacturing index hit its highest level since April 2010. The measure of Texas manufacturing came in at 22.1, well above expectations of 15.0 from economists.

ADDITIONALLY:

Fitbit slashed its guidance and the stock tanked.

Morgan Stanley thinks ESPN can get its mojo back. 

Trump deflected some of the blame for congested airports on Delta.

Here's Business Insider's Alex Heath on what to expect from Facebook's earnings this week.

SEE ALSO: There are a lot of problems with Trump's 20% border tax idea

Join the conversation about this story »

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Bitcoin payments startup BitPesa has raised $2.5m in a new Series A funding round.

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ESPN has been having a tough time of it. 

Disney has been struggling of late due to falling ESPN advertising revenue and 2% annual subscriber erosion at ESPN for the last three years.

Programming costs were also higher toward the end of last year, escalated by the costs of Olympics programming, rights to air the World Cup of Hockey, and higher rates for college sports.

And like other networks, ESPN is struggling with a consumer shift towards cheaper streaming services like Amazon and Netflix and away from cable and satellite bundles. The number of households with the sports network has declined since 2013.

All of this could be about to change however, according to a note published by Morgan Stanley on Monday.

Morgan Stanley equity analysts, led by Benjamin Swinburne, upgraded Disney from an equal-weight to an overweight rating. The team cited a reset of estimates and potential for ESPN to accelerate revenue growth against a more aggressively managed cost base. The team also believe that distribution renewals for ESPN, new streaming bundles, and a strong film slate will accelerate Disney's EPS growth in 2017. 

"It remains a time of transition at Disney, as it evolves its ESPN/ABC distribution model to attempt to reach consumers that have been opting out of the pay-TV bundle," according to the team. They expect ESPN to launch an à la carte service, like CBS and HBO have. "We expect the à la carte and bundled offerings will co-exist for a long time, creating more earnings stability than the market presumes."

It's also likely that Disney will bring on a new CEO after June 2018, succeeding Bob Iger. 

Disney is ticking up 0.47% to $109.81 per share on Monday afternoon. Morgan Stanley increased their price target for the company from $101 to $124 on Monday.

Disney reports Q1 F17 earnings results on February 7th. 

SEE ALSO: ESPN is crushing Disney

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ESPN has been having a tough time of it. 

Disney has been struggling of late due to falling ESPN advertising revenue and 2% annual subscriber erosion at ESPN for the last three years.

Programming costs were also higher toward the end of last year, escalated by the costs of Olympics programming, rights to air the World Cup of Hockey, and higher rates for college sports.

And like other networks, ESPN is struggling with a consumer shift towards cheaper streaming services like Amazon and Netflix and away from cable and satellite bundles. The number of households with the sports network has declined since 2013.

All of this could be about to change however, according to a note published by Morgan Stanley on Monday.

Morgan Stanley equity analysts, led by Benjamin Swinburne, upgraded Disney from an equal-weight to an overweight rating. The team cited a reset of estimates and potential for ESPN to accelerate revenue growth against a more aggressively managed cost base. The team also believe that distribution renewals for ESPN, new streaming bundles, and a strong film slate will accelerate Disney's EPS growth in 2017. 

"It remains a time of transition at Disney, as it evolves its ESPN/ABC distribution model to attempt to reach consumers that have been opting out of the pay-TV bundle," according to the team. They expect ESPN to launch an à la carte service, like CBS and HBO have. "We expect the à la carte and bundled offerings will co-exist for a long time, creating more earnings stability than the market presumes."

It's also likely that Disney will bring on a new CEO after June 2018, succeeding Bob Iger. 

Disney is ticking up 0.47% to $109.81 per share on Monday afternoon. Morgan Stanley increased their price target for the company from $101 to $124 on Monday.

Disney reports Q1 F17 earnings results on February 7th. 

SEE ALSO: ESPN is crushing Disney

Join the conversation about this story »

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Shares of Fitbit are down 15.7% at $6.08 per share on Monday after the company announced preliminary fourth-quarter results that were well below its previous estimate, in addition to slashing its guidance for the crucial holiday quarter.

The company said it sold 6.5 million devices in the fourth quarter, and that revenue would come in at $572 million to $580 million, well below its previous guidance range of $725 million to $750 million. 

And while shareholders have been punished with a 75% plunge in the stock during 2016, there's one group that has been cleaning up: Short sellers. They amassed a massive position in the stock during the early part of January, increasing their interest by 31% up to $424 million, according to data provided by S3 Partners.

Research conducted by the firm shows that while short sellers have incurred $505,000 in costs associated with borrowing shares to sell them short, they booked a mark-to-market profit of $73.5 million as of Monday. That's an 18% return in just under a month, and in addition to the 131% short sellers made on the stock in 2016, according to S3.  

While short sellers have been in control, S3 warns, "It might not take much more than a hug to start a true short squeeze in Fitbit." 

SEE ALSO: Fitbit is plunging after slashing its guidance

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The Federal Reserve Bank of Dallas will release its Texas Manufacturing Outlook Survey for January at 10:30 a.m. ET.

Economists anticipate the gauge slipped to 15.0 after posting a reading of 15.5 in December.

The measure has held above zero, a sign of expansion, for two straight months after not registering a reading above the level since December 2014.  

SEE ALSO: How a Corona gets from Mexico to your local bar, and how Trump could make that trip more complex

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The latest report on pending home sales from the National Association of Realtors (NAR) is due out at 10:00 a.m. ET.

The measure of single family homes, co-ops, and condos with contracts signed is expected to rise by 1.1% for the month of December from the month before. This would be an improvement from the 2.5% drop in November.

The NAR said the "brisk" increase in mortgage rates and the low supply of homes on the market led to last month's decline in home sales.

We'll have the number as it crosses, so refresh the page for updates.

SEE ALSO: There are a lot of problems with Trump's 20% border tax idea

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Shares of Fitbit are down 9.2% at $6.55 a share after the company announced preliminary fourth quarter results that are well below its previous estimate.

In a release sent out on Monday, Fitbit said it expects to announce that it sold 6.5 million devices in the crucial holiday quarter and said that fourth-quarter revenue would be between $572 million to $580 million, well below its previous guidance range of $725 million to $750 million. 

“Fourth quarter results are expected to be below our prior guidance range; however, we are confident this performance is not reflective of the value of our brand, market-leading platform, and company’s long-term potential," James Park, Fitbit co-founder and CEO said in a statement. "To address this reduction in growth and what we believe is a temporary slowdown and transition period, we are taking clear steps to reduce operating costs."

As part of its cost-cutting effort, Fitbit is:

• "Targeting a reduction in the 2016 exit operating expense run rate of approximately $200 million, to approximately $850 million for 2017"
• "Conducting a reorganization of its business, including a reduction in force, that will impact approximately 110 employees, constituting approximately 6% of the company’s global workforce, creating a more focused and efficient operating model."

The company says the reorganization efforts will save about $4 million in the the first quarter of 2017. 

Shares of Fitbit had a rough 2016, tumbling 75% amid an increasingly competitive market for wearable devices. In November, the company slashed its earnings-per-share guidance for the crucial holiday quarter to just a quarter of what analysts had been expecting.

SEE ALSO: Bets that Fitbit is in trouble are piling up

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Delta Airlines is the latest company to fall into the path of President Donald Trump's Twitter account.

Trump claimed that Delta's computer outage, which caused delays and more than 300 flight cancellations, was the source of troubles at airports over the weekend.

"Big problems at airports were caused by Delta computer outage, protesters and the tears of Senator Schumer," tweeted Trump.

Trump signed an executive order on Friday that banned inbound travel from seven Muslim-majority countries

Trump's order halted refugee arrivals into the US for 120 days, and it barred citizens of Iraq, Iran, Sudan, Libya, Somalia, and Yemen for 90 days.

The president has faced criticism over the constitutionality of the order, federal judges have blocked parts of the ban, and widespread protests have broken out at airports around the US.

The computer outage was the second in six months for Delta and stranded passengers across the US.

"I want to apologize to all of our customers who have been impacted by this frustrating situation,” said Delta CEO Ed Bastian in a press release early Monday. “This type of disruption is not acceptable to the Delta family, which prides itself on reliability and customer service. I also want to thank our employees who are working tirelessly to accommodate our customers."

Delta also issued a statement on Saturday saying they would "make every effort" to assist customers impacted by Trump's executive order.

"Delta will make every effort to contact impacted customers with flexible rebooking options including refunds," said the statement.

Following the tweet and outage, Delta stock is slightly lower in trading. As of 9:30 a.m. ET, shares were down roughly 1.6% at $48.90.

SEE ALSO: There are a lot of problems with Trump's 20% border tax idea

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The Mexican peso is higher by 0.8% at 20.7248 per dollar as of 9:11 a.m. ET.

Monday's advance marks a third straight day of gains for the peso after President Donald Trump and Mexican President Enrique Peña Nieto  exchanged barbs over Twitter regarding who would pay for the border wall. 

The peso rallied as much as 1.3% on Thursday after Trump tweeted: "The U.S. has a 60 billion dollar trade deficit with Mexico. It has been a one-sided deal from the beginning of NAFTA with massive numbers of jobs and companies lost. If Mexico is unwilling to pay for the badly needed wall, then it would be better to cancel the upcoming meeting."

Peña Nieto responded with a tweet of his own, "This morning we have informed the White House that I will not attend the meeting scheduled for next Tuesday with the @POTUS." The Mexican president has repeatedly said Mexico would not pay for the border wall.

The Trump administration responded by threatening a 20% border tax on goods imported from Mexico and later suggested a border tax could be implemented on imports from everywhere. 

On Friday, Trump tweeted: "Mexico has taken advantage of the U.S. for long enough. Massive trade deficits & little help on the very weak border must change, NOW!" The peso zoomed higher following the tweet, and extended its gains upon word the two presidents held an hour-long phone call to discuss the issue. 

The peso has now gained almost 6% since bottoming at 22.0072 per dollar on January 19. 

SEE ALSO: Trump is considering a 20% border tax on Mexican imports — here's what Mexico sends to the US

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As more and more things become connected to the internet, they all become more susceptible to hackers. So it should come as no surprise that even state-of-the-art hotel lock systems are now getting ransomed. Hackers recently penetrated the security system of a 4-star hotel in Austria, locking every room’s door from…

Read more...

Tempur Sealy, the marker of TempurPedic mattresses and other bedding products, is tanking on Monday after failing to reach a deal with a key retailer.

Temper Sealy said that it had terminated its business with Mattress Firm over a contract dispute. Tempur Sealy said in a release on Monday morning that Mattress Firm informed the company that the contract between the two would be terminated if there weren't "significant economic concessions."

"Over the course of the week, we conducted discussions with representatives of Mattress Firm and Steinhoff, and we considered their request for a significant change in economic terms," said Tempur Sealy CEO Scott Thompson. "Ultimately, we concluded that it was in the long-term interest of all of our stakeholders to terminate our contracts with Mattress Firm. This enables us to immediately reorient our employees and resources to support retail partners that exhibit a long-term commitment to Tempur Sealy's brands."

According to Reuters, Mattress Firm made up 21% of Tempur Sealy's sales in 2016.

Following the news, shares of Tempur Sealy fell just over 27% in pre-market trading as of 8:00 a.m. ET.

SEE ALSO: There are a lot of problems with Trump's 20% border tax idea

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The latest reading on personal income and spending will be out at 8:30 a.m. ET.

Economists forecast that personal income rose by 0.4% month-over-month in December, while personal spending rose by 0.5%, according to Investing.com.

Personal income was flat in the previous month, while personal spending rose by 0.2%.

Refresh this page for updates at 8:30 a.m. ET.

SEE ALSO: Legendary physicist Freeman Dyson talks about math, nuclear rockets, and astounding things about the universe

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CoinDesk's Noelle Acheson frames China's recent moves in the bitcoin sector as part of its broader attempts to find its place on the world stage.

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