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Gap, Walmart Partner To Launch Home Collection Brand Gap Home

Watch live: Fauci testifies before U.S. House on NIH budget

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Officials from the National Institutes of Health testify before Congress Tuesday on the agency's annual budget as the nation battles the Covid-19 pandemic.

Witnesses include White House chief medical advisor Dr. Anthony Fauci, who also runs the National Institute of Allergy and Infectious Diseases within NIH, as well as directors from the nation's top medical institutions.

NIH Director Dr. Francis S. Collins is also testifying before the House Committee on Appropriations and the Subcommittee on Labor, Health and Human Services along with Dr. Diana W. Bianchi, the Director of Eunice Kennedy Shriver National Institute of Child Health and Human Development.

Other witnesses include Dr. Gary H. Gibbons, the Director of the National Heart, Lung, and Blood Institute, Dr. Norman E. Sharples, the Director of the National Cancer Institute, and Dr. Nora D. Volkow, the Director of the National Institute on Drug Abuse.

Read CNBC's live updates to see the latest news on the Covid-19 outbreak.

European Economics Preview: Germany GfK Consumer Confidence Data Due

Consumer confidence survey results from Germany and Italy are due on Thursday, headlining a light day for the European economic news.

At 2.00 am ET, German GfK consumer confidence survey results are due. The forward-looking consumer sentiment index is forecast to rise to -5.2 in June from -8.8 in May.

In the meantime, foreign trade figures for Switzerland are due.

At 3.00 am ET, the National Institute of Economic Research is slated to publish Sweden economic tendency survey data for May.

Half an hour later, Statistics Sweden is set to issue foreign trade figures for April. The trade surplus is seen at SEK 5.6 billion versus SEK 4.1 billion in March.

At 4.00 am ET, IHS Markit releases Austria’s manufacturing Purchasing Managers’ survey results.

In the meantime, business and consumer sentiment survey results are due from Italy. The consumer confidence indicator is seen rising to 104.4 in May from 102.3 in April. The business sentiment index is expected to climb to 106.4 from 105.4 a month ago.

No survivors found after firefighting helicopter crashes during training exercise in Florida

A helicopter crashed at Leesburg International Airport Tuesday evening. (Photo: Leesburg Fire Rescue)

LEESBURG, Fla. — At least one person died after a firefighting helicopter crashed Tuesday evening during a training exercise, officials say. 

The helicopter crashed around 4 p.m. in a marshy area near Leesburg International Airport in central Florida, the Federal Aviation Administration said.

Four people were on board and one person has been confirmed dead. No other survivors have been found. 

The chopper, a firefighting Sikorsky UH-60, crashed between the airport property and the St. Johns River Water Management conservation area, said Leesburg City Manager Al Minner. It’s extremely swampy and hard to get to, he said.

The FAA said Tuesday that it was investigating the crash with the National Transportation Safety Board.

“The FAA will release the aircraft tail number once investigators verify it at the scene,” an FAA statement said, in part. “The NTSB will be in charge of the investigation and all updates.”

Stock Alert: Tempur Sealy Climbs 6% On Raised Sales Outlook, Acquisition Of Dreams

Shares of mattresses/bedding products manufacturer Tempur Sealy International, Inc. (TPX) are trading up 6 percent on Thursday as the company raised its second-quarter sales outlook and announced the acquisition of British specialty bed retailer Dreams.

The company said that as the quarter-to-date orders have increased since the first-quarter results were reported, it now expects net sales growth of around 60 percent in the second quarter. Higher demand for Tempur-Pedic products in the U.S also contributed to the revised outlook.

Separately, the company said that it has acquired Dreams from an affiliate of Sun Capital Partners, Inc. for a sum of around $475 million.

The stock is currently trading at $39.09, up $2.24 or 6% on the NYSE. TPX has traded between $15.30 and $41.04 during the past 52 weeks.

Gap, Walmart Partner To Launch Home Collection Brand Gap Home

Fashion retailer Gap Inc. and retail major Walmart announced a strategic multi-year partnership to introduce Gap Home, a new brand of home essentials available exclusively at Walmart.

The deal combines Walmart’s scale and Gap’s brand heritage to life through signature style in a new product category for the first time, offering quality designs and timeless home essentials. Gap is the first fashion retailer to partner with Walmart in the home space.

Beginning June 24, the Gap Home launch collection will be available to shop exclusively on Walmart.com. It will feature more than 400 items across home décor, tabletop, bedding and bath.

The launch collection features quality materials like denim and chambray with unique finishes. The Gap Home collection includes items made with organic cotton and recycled materials.

The prices will range from $15.88 for a Washed Denim Pillow to $64.98 for a T-Shirt Soft Jersey Reversible King Comforter Set perfect for dressing all spaces, from college dorms to forever homes.

New Gap Home seasonal and special collections will drop throughout the year. They will be developed in partnership with Gap’s licensing agency, IMG.

Anthony Soohoo, Executive Vice President, Home, Walmart, said, “Over the past few years, we’ve focused on expanding our home assortment to bring high-quality, stylish home goods and decor to our customers at an unbelievable value. Gap Home is the latest example of how we’ll deliver on that mission.”