Shares of Facebook are up over seven per cent in pre-market trading. The social network giant is planning for a fine of up to US$5 billion and formally setting aside US$3 billion for an ongoing investigation by the U.S. Federal Trade Commission which is looking into whether the company violated its users' privacy. Investors seem to be taking it as a positive signal that the company is close to resolving its regulatory issues.Total revenue and monthly active users topped Wall Street expectations.   

TESLA RETURNS TO THE RED WITH BIGGER-THAN-EXPECTED Q1 LOSS

Tesla returned to losing money in the first quarter following two profitable quarters after new-vehicle deliveries fell 31 per cent compared to the previous three months. The company struggled to ship its Model 3 vehicle to customers overseas for the first time. The company’s CEO Elon Musk expects an increase in deliveries and cost cuts will help narrow the loss in Q2 and help return the electric-car maker to profitability before the end of the year.

BOMBARDIER CUTS FORECAST 

Bombardier is cutting its full-year profit and revenue forecast. The company is slashing its 2019 sales estimates by $1 billion down to $17 billion. The plane and train maker is blaming timing of aircraft deliveries, unfavourable currency exchange and slower production ramp-up of some of its bigger projects in its transportation business.

OTHER NOTABLE STORIES

-Shares of Microsoft are up pre-market trading after the company topped expectations in the third quarter

-3M shares dropped more than seven per cent in pre-market trading after cutting forecasts

-Barclays Q1 profit dropped 10 per cent due to lingering concerns over Brexit and challenging market conditions

-UBS Q1 profit drops 27 per cent compared to the same period a year ago

-Deutsche Bank and Commerzbank end their merger talks

-Former Nissan chairman Carlos Ghosn has been granted bail again by a court in Tokyo and may be released from jail as early as today.

NOTABLE RELEASES/EVENTS

-Notable earnings: Aecon Group, Agnico-Eagle Mines, Precision Drilling, Vermilion Energy, West Fraser Timber, Sherritt International, Celestica, Amazon.com, Newmont Goldcorp, Altria, Ford, UPS, Starbucks, 3M, Intel, Mattel

-Notable data: U.S. durable goods orders

-Green Growth Brands' hostile takeover offer for Aphria scheduled to expire

Every morning BNN Bloomberg's Managing Editor Noah Zivitz writes a ‘chase note’ to BNN Bloomberg's editorial staff listing the stories and events that will be in the spotlight that day. Today's note was written by Senior Producer Alicia Harvey. Have it delivered to your inbox before the trading day begins by heading to www.bnnbloomberg.ca/subscribe.