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Apple Inc. is developing an augmented-reality device worn on the head that it could introduce to consumers as soon as 2020, according to a Wednesday report. Bloomberg News reported, based on anonymous sources, that Apple is developing a device similar to Google Glass or the Microsoft HoloLens that would run without being tethered to another device, like an iPhone. Apple has made a big push into augmented reality this year, launching its first AR software-development kit and using AR capabilities such animojis to market its newest iPhones as AR-capable. Bloomberg reported that Apple is developing a new operating system and chip for the device, much as it has for the Apple Watch. The smartwatch is the only device with a new form factor introduced by Apple since Tim Cook took over the CEO role from co-founder Steve Jobs, who oversaw the introduction of the iPhone and iPad. Apple stock opened at $174.66 Wednesday morning, down 15 cents from Tuesday’s close, and is up more than 50% on the year as the S&P 500 index has gained 15.7%.

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Major banks traded lower on Wednesday, as investors began to evaluate the impact of big Democratic election wins in Virginia and New Jersey. “If we are right and Virginia signals increased chances that control of the House flips, then investors need to start thinking about Rep. Maxine Waters (D-CA) as the next chairman of the House Financial Services Committee. While we doubt that Waters could implement an anti-bank, anti-financials agenda, the financial sector would no longer have a wind at its back from Congress and we think the headline risk for the industry would increase significantly,” said KBW’s Brian Gardner. Gardner also said there’s a possibility the election loss will cause the tax reform package to be modified in a more populist way. Citi , Bank of America , J.P. Morgan Chase , Goldman Sachs , Wells Fargo and Morgan Stanley each traded lower.

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U.S. stock indexes mostly ticked lower on Wednesday at the open. The Dow had notched a fresh all-time high in the previous session even as financials sagged. Equities have struggled to sustain their upward momentum as the Republican tax plan receives push-back after its unveiling last week. The Dow Jones Industrial Average shed 13 points, or 0.1%, to 23543. The S&P 500 fell 3 points, or 0.1%, to 2588. The Nasdaq Composite Index tipped higher 1 point to 6769.

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Mallinckrodt PLC shares dropped 2.4% in premarket trade Wednesday after the company was downgraded to neutral by Goldman Sachs. The company reported third-quarter profit and revenue misses on Tuesday, including a sales decline for its key multiple sclerosis and infantile spasms drug Acthar, and Goldman Sachs analyst Dana Flanders questioned the sustainability of Acthar growth and whether the company will take near-term strategic action. Acthar results were affected by a large share of prescriptions not getting filled due to both health insurer and patient factors, Flanders said, yet “while MNK pointed to a challenging payor environment that is impacting the entire industry – we have not yet seen this sharp decline more broadly across the sector.” A previous buy rating reflected an expectation that Acthar sales would continue to grow, Flanders said. Mallinckrodt shares have dropped nearly 50% over the last three months, compared with a 4.4% rise in the S&P 500 .

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Amazon.com Inc. said Wednesday that it will add more than 1,500 full-time associates through a new Baltimore fulfillment center. Amazon already has three fulfillment facilities in Maryland, including two in the Baltimore city limits. The company says its investment in the state totaled $100 million from 2014 to 2016. This newest facility will be 855,000 square feet, and workers will pick, pack and sort electronics, books, housewares and toys. Amazon shares are nearly unchanged in Wednesday premarket trading, and are up nearly 50% for the year so far. The S&P 500 index is up 15.7% for 2017 to date.

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Humana Inc. disclosed in a filing with the Securities and Exchange Commission that third-quarter revenue fell 3.0% to $13.282 billion from $13.69 billion, just below the FactSet consensus of $13.325 billion. Premiums revenue declined 3.1% to $12.96 billion, below the FactSet consensus of $13.04 billion, and the 1.8% decline in services revenue to $223 million missed expectations of $233 million. Investment income revenue rose 8.3% to $104 million, but was below the FactSet consensus of $104.9 million. The revenue was disclosed in an SEC filing accepted at 7:34 a.m. ET, while the health plan administrator’s earnings press release sent at 6:30 a.m. to news wires and that appeared on its website did not include revenue numbers. In that release, Humana reported third-quarter adjusted earnings per share that beat the FactSet consensus and raised its full-year EPS outlook. The stock was up 1.6% in premarket trade. It has gained 2.4% over the past three months through Tuesday, while the SPDR Health Care Select Sector ETF has tacked on 2.8% and the S&P 500 has advanced 4.7%.

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Sears Holdings Corp. said Wednesday that it has agreed to an amendment to its Pension Plan Protection and Forbearance Agreement that will release about 140 Sears properties from a ring-fence arrangement in order to pay $407 million into its pension plan. A ring-fence arrangement sets aside certain assets for various benefits including lower taxes. Sears says the amendment will close in about three months, and the financing will be repaid over the next two years through the proceeds of sales of these properties. Sears says it’s required to make a $37 million quarterly payment to the pension plan in December, but will be relieved of the obligation after the $407 million contribution. The retailer had a third-quarter net loss of between $525.0 million and $595.0 million, compared with a loss of $748.0 million last year. Third-quarter sales were $3.7 billion, down from $5.0 billion year-over-year. The FactSet consensus is for $4.0 billion. Revenue was hurt by fewer pharmacies in Kmart stores and reduced consumer electronics merchandise in Kmart and Sears stores. Total same-store sales fell 15.3%, with Kmart same-store sales falling 13% and Sears same-store sales dropping 17%. The same-store sales consensus was for a 6.2% decline. Sears shares are down 1% in Wednesday premarket trading, and down 56.6% for the last year. The SPDR S&P Retail ETF is down 6.5% for the last 12 months and the S&P 500 index is up 21.1% for the period.

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Shares of Take -Two Interactive Software Inc. were up more than 12% in premarket trade on Wednesday after the video game maker reported 2018 fiscal second-quarter earnings after the bell on Tuesday. Take-Two management raised guidance for the full year due to what they saw as a better-than-expected quarter. Take-Two’s quarter was driven by the release of “NBA 2K18” and continued success around the “Grand Theft Auto” franchise, more than four years after the launch of the most recent game’s online mode. With that, and the opportunity surrounding the delayed release of “Red Dead Redemption 2,” Piper Jaffray analyst Michael Olson wrote that he’s maintaining an overweight rating and raising his 12-month price target to $125 from $110. “With Red Dead 2 delayed until the spring, 2018 guidance continues to be driven by growth of higher-margin digital revenue from increasing full game downloads, and recurrent consumer spending on GTA Online and NBA 2K,” Olson wrote in a note to investors. “We believe there are three components of Take-Two’s business that, when combined, have the potential to drive upside to estimates in the coming quarters and years: recurrent consumer spend, full game downloads, and two ‘call options’ (mobile & eSports).” Shares of Take-Two Interactive have increased nearly 116% in the year to date, while the S&P 500 index is up close to 16% and the Dow Jones Industrial Average is up more than 19%.

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Shares of MGM Resorts International fell nearly 4% in premarket trade on Wednesday after the company reported third-quarter profit that was below Wall Street expectations. MGM reported net income of $149.1 million, or 26 cents per share during the quarter, down from income of $535.6 million, or 94 cents per share during the same quarter a year ago. FactSet’s consensus on earnings per share was 35 cents. Revenue was $2.83 billion, compared with $2.52 billion in the year earlier period. FactSet’s consensus on revenue was $2.77 billion. Shares of MGM Resorts are up more than 9% in the year to date, while the S&P 500 index is up nearly 16% and the Dow Jones Industrial Average is up more than 19%

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Shares of Regeneron Pharmaceuticals Inc. rallied 2.6% in premarket trade Wednesday, after the biotechnology company reported third-quarter profit and revenue that rose above expectations. Net income increased to $388.3 million, or $3.32 a share, from $264.8 million, or $2.27 a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share came to $3.99, beating the FactSet consensus of $3.82. Revenue rose to $1.50 billion from $1.22 billion, above the FactSet consensus of $1.45 billion, as net product sales, Sanofi collaboration revenue and Bayer collaboration revenue all beat expectations. Sales of its lead retinal therapy Eylea rose 12% to $953 million, beating the FactSet consensus of $935 million. The stock has fallen 14% over the past three months through Tuesday, while the iShares Nasdaq Biotechnology ETF has slipped 0.1% and the S&P 500 has gained 4.7%.

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