While hurricane rescue and rebuilding efforts remained the focus of everyone, not just Wall Street, two of the most well-known companies in corporate America were making headlines on Monday.
Apple Inc. (AAPL - Get Report) , for one, confirmed that Sept. 12 will be the official launch party for its much-anticipated iPhone 8 release. While the reveal date gives investors a concrete day to look forward to, it's a string of reports arriving in the last five days that provide real clarity as to how it will make, or break, Apple's bottom line.
Meanwhile, ride-sharing company Uber Technologies Inc., appears to have named Dara Khosrowshahi, the CEO of online travel company Expedia Inc. (EXPE - Get Report) , as the successor to ousted co-founder Travis Kalanick. While a well-regarded executive, one can't help but think Uber missed a key opportunity to add a woman in a key leadership role. While it may seem relatively inconsequential, Uber has been dealing with a host of issues, one of which revolves around a culture of chauvinism.
It's pretty clear that the hiring of other potential candidates, including Hewlett-Packard Enterprise Inc.'s (HPE - Get Report) Meg Whitman, or Facebook Inc.'s (FB - Get Report) Sheryl Sandberg might have helped the eight-year-old company work past its gender issues.
Still, it's hard to get past the fallout from Hurricane Harvey, not just in the greater Houston area but around the U.S. (and even the globe) on Monday.
Oil saw the greatest impact as Exxon Mobil Corp. (XOM - Get Report) , Royal Dutch Shell Corp. (RDS.A - Get Report) and Valero Energy Corp. (VLO - Get Report) , among others, shut down area refiners due to massive widespread flooding.
The economic impact of Harvey can't be understated and more details will continue to trickle out in the coming days that will shape just how the markets will be affected by the storm. The impact on millions of lives can't be estimated, however.
Photo of the day: Staying a step ahead of the competition
Adidas AG has been eating Nike Inc.'s (NKE - Get Report) lunch recently, as the German athletic apparel company continues to steal market share from Phil Knight's pride and joy. While both companies were pioneers in terms of athletic innovation on Monday Adidas took a step to further modernize its offerings. Fitbit Inc. (FIT - Get Report) said Monday it is turning to Adidas to help make sure that its first smartwatch launch is a success. The wearable tech company announced a limited edition Adidas branded version of its Ionic smartwatch. The Ionic is Fitbit's first smartwatch and will be tasked to compete with Apple Inc.'s (AAPL - Get Report) Apple Watch which has had a long-standing partnership with Nike. Originally founded in 1924 by Adi Dassler, the company has consistently been at the forefront of athletic gear. Pictured above is an ad from a 1954 issue of British newspaper the Daily Sketch, depicting the "Dassler boot" (left) and a traditional English soccer shoe. From the shell-top toe to the shoe-length lace locks, it is clear that Adidas has been ahead of its time for quite a while.
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