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Wake Up Wall Street: Companies Respond to Trump's Travel Ban

Starbucks, Apple, Google and Microsoft all condemned President Trump's actions.

Here's a round-up of the financial news from around the world.

Starbucks (SBUX) - Get Starbucks Corporation Report CEO Howard Schultz responded to the travel ban instituted by the Trump administration, announcing the coffee giant is developing plans to hire 10,000 refugees over the next five years. A host of tech companies, from Apple (AAPL) - Get Apple Inc. Report to Google (GOOGL) - Get Alphabet Inc. Class A Report to Microsoft (MSFT) - Get Microsoft Corporation Report , also condemned the move by President Trump.

Toyota (TM) - Get Toyota Motor Corp. Report lost its position as the top global seller of cars to rival Volkswagen (VLKAY) . The maker of the Prius and Corolla announced that sales had risen 0.2% to 10.175 million units, which fell short of the 10.31 million sold by Volkswagen. 

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CSX (CSX) - Get CSX Corporation Report  is discussing a settlement with Hunter Harrison and the activist investor backing him that could make the railroad-industry veteran its CEO less than two weeks after launching a campaign for influence over the railroad company.

Fitbit (FIT) - Get Fitbit, Inc. Class A Report  plans to cut between 5% and 10% of its employees, and disclosed that its fourth-quarter results were below expectations.