The FAA administrator's comments come on the eve of his visit to Boeing facilities outside Seattle. While there, he's scheduled to meet with Boeing executives and be briefed...Airlinesread more
CBS, CNN and other major media companies are starting to pull e-cigarette advertising off their airways, as the death toll from a mysterious vaping-related illness continues...Health and Scienceread more
Investors largely expected the FOMC to cut rates by a quarter point.The Fedread more
Investors bought bank stocks because there's a chance the Federal Reserve's interest rate cut may "put an end to this artificially inverted yield curve," Jim Cramer says.Mad Money with Jim Cramerread more
AT&T is considering selling DirecTV, according to a report in the Wall Street Journal.Technologyread more
The Facebook CEO will talk to policymakers "about future internet regulation," according to a spokesperson.Technologyread more
As the Fed was meeting to consider cutting interest rates, it lost control of the very benchmark rate that it manages.Market Insiderread more
Disney CEO Bob Iger writes in his autobiography that he believes he would have discussed combining Disney with Apple had Steve Jobs lived.Technologyread more
The decision to cut rates followed a monthslong pressure campaign by Trump, who often criticized Chairman Jerome Powell by name as he called for lower interest rates.Politicsread more
Microsoft shares rose 1% after hours as it announced plans to raise its dividend and authorized as much as $40 billion to buy back shares.Technologyread more
The Fed cut interest rates by a quarter point, but it also reaffirmed its rate cut was meant to serve as insurance for the economy.Market Insiderread more
Baidu, owner of China's dominant search engine, reported a lower-than-expected 47.5 percent rise in quarterly revenue as more users switched from PCs to mobile devices, which have less space for more lucrative forms of advertising.
Shares of the U.S.-listed company fell 7.8 percent to $198 in extended trading on Wednesday.
Baidu, sometimes referred to as China's Google, reported revenue of 14.05 billion yuan, or $2.26 billion, for the fourth quarter, falling short of the average analyst estimate of 14.12 billion yuan, according to Thomson Reuters I/B/E/S.
Mobile revenue represented 42 percent of total revenue, up from 36 percent in the third quarter, Baidu said.
"In December, for the first time search revenue from mobile surpassed PC," Chief Executive Robin Li said in a statement.
Baidu forecast revenue of 12.65 billion-13.07 billion yuan ($2.04 billion-$2.12 billion) for the current quarter. Analysts on average expected revenue of 13.62 billion yuan.
The forecast reflects the combined impact of the late timing of Chinese New Year and increased contribution from mobile as a percentage of overall revenue, the company said.
"The investments we've made in mobile over the last two years have clearly paid off and set the stage for Baidu to capture an even larger market opportunity," Chief Financial Officer Jennifer Li said in a statement.
Net income attributable to Baidu jumped 16 percent to 3.23 billion yuan, or $520.4 million, for the fourth quarter.
Excluding share-based compensation expenses, Baidu earned 9.97 yuan per share, or $1.61 per ADS, beating the average analyst estimate of 9.94 yuan per share, according Thomson Reuters I/B/E/S.
Baidu shares closed at $214.67 on the on Wednesday.