Apple scales back on iPhone X, Waymo buys Fiat Chrysler vans, Walmart cracks down on deliveries

Here’s a look at some of the companies the Yahoo Finance team will be watching for you today.

Apple (AAPL) is slashing production of its new iPhone X in a sign of weak demand for the $1,000 smartphone. According to the Wall Street Journal, Apple plans to make 20 million phones in the first quarter instead of the 40 million it initially planned. Apple will offer its first report on iPhone X sales when it reports earnings Thursday.

Waymo, the self-driving tech unit of Google’s parent company Alphabet (GOOGL), is buying thousands of minivans from Fiat Chrysler (FCAU). The delivery will begin later this year. The deal comes after Waymo equipped 600 existing Chrysler Pacifica minivans with its driverless technology in25cities nationwide.

Walmart (WMT) is cracking down on its suppliers to stay competitive with Amazon. At this week’s annual company conference, Walmart is expected to announce that it will demand large suppliers deliver their goods within a one to two day window 85% of the time or pay a fine, according to the Wall Street Journal.

Just in time for the president’s State of the Union address, Exxon Mobil (XOM) says the recently announced tax cuts will allow the oil giant to invest $50 billion over the next five years to expand its business in the United States. That’s on top of a previously announced plan to spend $20 billion to build refining, chemical and export facilities along the Texas Gulf Coast.