Concerns about Brexit continue to linger as the pound fell to a 31-year low against the U.S. dollar on Tuesday, even trading below levels reached following the vote to leave the European Union in June. The currency dropped to $1.274 -- which is almost 14% below where it traded on June 23, the day of the referendum.
In the U.S., the possibility of an interest rate hike before year's end will be on investors' minds again as two Fed presidents are speaking today. Richmond Fed President Jeffrey Lacker is set to discuss the economic outlook for October at the West Virginia Economic Outlook Conference in Charleston, W.V. Later on, Chicago Fed President Charles Evans will be speaking to the CFA Society in New Zealand.
Just when you thought Mylan's (MYL) EpiPen controversy had subsided, it resurfaces. The company's half-price version of its live-saving allergy treatment will be available by the end of this year, potentially months later than a timeline Mylan gave in August, Bloomberg has reported. The cheaper version of the EpiPen shot will cost $300. Mylan spokeswoman Nina Devlin told Bloomberg that Mylan expected the so-called authorized generic EpiPen this year, "once we have assured that sufficient inventory will be available to meet anticipated orders."
In earnings new, Darden Restaurants (DRI) posted better-than-expected earnings and raised its guidance for the full year. The company reported earnings of $0.88 per share, surpassing analysts' estimates of $0.82 per share. Revenue of $1.71 billion was just below Wall Street's forecast of $1.72 billion. The owner of Olive Garden and LongHorn Steakhouse updated its fiscal 2017 outlook. Darden now expects EPS between $3.87 and $3.97, compared with its previous outlook range of $3.80 to $3.90. Shares jumped 4% in premarket trading on the report.
Finally, Alphabet's (GOOGL) Google is set to unveil a number of new tech devices at an event in San Francisco at 12 P.M. ET. Two new smartphones are expected to be introduced as well as Google Assistant, an internet-connected personal-assistant similar to Amazon's (AMZN) Echo. (Alphabet is a holding in Jim Cramer's Action Alerts PLUS portfolio; Amazon is a holding in TheStreet's Growth Seeker portfolio).
TheStreet will be live-blogging the event so check our home page to follow it and submit questions.
