The Business Roundtable, led by Jamie Dimon, gives a new definition of the "purpose of a corporation."Marketsread more
Stocks rose sharply on Monday as Treasury yields rebounded, quelling fears of a possible recession.US Marketsread more
Powell will have the opportunity if not to walk back the "midcycle" assessment then to at least provide some further explanation about what it means.Economyread more
Twitter and Facebook have suspended numerous accounts that are believed to be tied to a state-backed information campaign originating from inside China.Technologyread more
Leaked documents from Google give fresh ammo to conservative lawmakers who have already accused Google and other tech companies of political bias.Technologyread more
J.P. Morgan estimates the average annual tariff cost per household will be $1,000 with the new round of Trump's tariffs.Marketsread more
Stasior left Apple earlier this year. Prior to his time in charge of Siri, he was a top executive at Amazon.Technologyread more
Sequoia's Michael Moritz says that direct listings worked for Spotify and Slack and will become more common for companies with "courage and intelligence."Technologyread more
Shares of embattled utility PG&E plummeted after a judge ruled that a jury can decided whether it should pay up to $18 billion in damages.Marketsread more
The attacks come after state and local ransomware attacks in New York, Louisiana, Maryland and Florida resulted in the loss of significant sums.Technologyread more
Since its IPO 15 years ago, Google has become more and more powerful. Today, that power is being highly scrutinized.Technologyread more
Check out which companies are making headlines before the bell:
UnitedHealth Group—The health insurer reported second quarter profit of $1.64 per share, 6 cents above estimates, with revenue also above forecasts. The company also raised its full-year forecast to reflect additional profit from its soon-to-close acquisition of Catamaran Corp.
Goldman Sachs—Goldman reported quarterly profit of $1.98 per share, a number which was trimmed by $2.77 from litigation expenses. Analysts had expected profit of $3.98 per share. Goldman's revenue did beat estimates, however.
EBay—EBay earned an adjusted 76 cents per share, beating estimates by 4 cents, though revenue was slightly below forecasts. The company also announced an addition of $1 billion to its share buyback program. Separately, EBay is near a deal to sell its enterprise business to a private equity consortium for about $900 million, according to The Wall Street Journal.
Garmin—Garmin said it is expecting second quarter profit to come in at 70 cents to 72 cents per share, below the current consensus estimate of 89 cents. The maker of GPS and wearable fitness devices notes the negative impact of the stronger dollar and an increasingly competitive fitness market.
BB&T—The North Carolina-based bank matched estimates with adjusted earnings of 69 cents per share, with revenue slightly below Street forecasts. BB&T saw a drop in net interest margin, a key profitability metric, though its loan business did grow.
Blackstone—The investment firm saw quarterly results fall below estimates by 4 cents, with "economic net income" of 43 cents per share. Revenue was also below forecasts. Chairman and CEO Stephen Schwarzman called the quarter "solid" despite challenging market conditions.
Domino's Pizza—The pizza chain reported quarterly profit of 81 cents per share, 2 cents above estimates, while revenue was essentially in line. International sales were hurt by the strong dollar, but Domino's did see strong U.S. sales growth.
Philip Morris International—The tobacco producer earned an adjusted $1.21 per share for its latest quarter, 8 cents above estimates, and revenue also topped forecasts. The beat came despite a significant negative impact from a stronger dollar as well as lower volume.
Rio Tinto—The miner scaled down its forecast for iron ore shipments for the year, due to the impact of severe weather.
Google—BMO upgraded Google shares to "outperform" from "market perform," based on higher earnings estimates and more stable profit margins in coming quarters.
Brinker International, Buffalo Wild Wings, Darden Restaurants, Chipotle Mexican Grill, Domino's Pizza, Jack In The Box, Papa John's, Starbucks—BTIG began coverage of the fast-casual restaurant industry, assigning "buy" ratings to the aforementioned companies. BTIG expects companies that best leverage their digital platforms to take more market share.
Netflix—Netflix reported quarterly profit of 6 cents per share. That beat estimates by 2 cents, with revenue essentially in line. Netflix did add far more subscribers than expected during the quarter, helping give the stock a boost in after-hours trading.
Intel—Intel earned 55 cents per share for its latest quarter, 5 cents above estimates, with revenue also beating forecasts. The chip maker's results were helped by growth in non-personal computer areas like data centers and chips for various devices.
Corning—The glass maker announced a $2 billion share repurchase program that will run through December of 2016.
United Continental—United awarded several million buyers to "white hat" hackers who helped uncover flaws in the airline company's online security, according to Reuters.
Kinder Morgan—Kinder Morgan is buying the 49 percent of a natural gas joint venture with Royal Dutch Shell that it does not already own, investing another $630 million in the project. Separately, the energy producer raised its quarterly dividend by 14 percent to 49 cents per share.
Stericycle—Stericycle is buying Shred-It International For $2.3 billion. The company best known for hazardous and medical waste disposal expects to close the deal during the fourth quarter. Business services provider Cintas Corp. owns 42 percent of the document and hard drive destruction company, and private equity firm Birch Hill is also a stakeholder.
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