The IMF trims its economic growth forecast again as the U.S.-China trade war continues, Brexit worries linger and inflation remains muted.Economyread more
Citigroup thinks Tesla investors hoping for a post-earnings rally later this week should scrutinize a pair of related financial metrics.Investingread more
Olive branches were extended from both China and the U.S. as the two nations are set to restart face-to-face trade negotiations after a monthlong truce.Marketsread more
Coca-Cola topped Wall Street's expectations for earnings and revenue.Food & Beverageread more
New disclosures show Facebook and Amazon each spent more than $4 million on lobbying activity in the second quarter of 2019.Technologyread more
Boris Johnson, one of the biggest voices in the Brexit movement, wins the Conservative Party leadership race by a 2-1 margin.Europe Politicsread more
Disney can nearly double its earnings by 2024, Morgan Stanley said in a note to clients on Tuesday.Investingread more
Amazon is expected to report its second-quarter earnings on Thursday.Investingread more
The largest residential brokerage company in the U.S. is partnering with the largest online retailer in a strategy to boost sales for both.Real Estateread more
Here are the biggest calls on Wall Street on TuesdayInvestingread more
Canaccord Genuity's Tony Dwyer believes stocks are about to fall as much as 5% from their all-time highs.Trading Nationread more
Verizon Communications reported quarterly earnings Tuesday that beat analysts' expectations, but narrowly missed on revenue.
The company posted second-quarter earnings per share of 94 cents, beating analysts' expectations. Revenue for the quarter came in at $30.53 billion, missing the Street's estimate.
Analysts had expected earnings of about 92 cents a share on $30.94 billion in revenue, according to a consensus estimate of Thomson Reuters.
Shares of the company fell slightly in premarket trading.
The earnings and revenue numbers were down from the year-earlier period, which saw earnings of $1.04 a share on revenue of $32.22 billion.
The telecommunications giant saw growth in its wireless division, reporting 615,000 retail postpaid net additions in the quarter, according to a company release. At the end of the second quarter, Verizon reported 113.2 million retail connections, a 3.3 percent year-over-year increase.
In addition, the company grew total revenues for its Fios fiber-optic based services by 3.7 percent from the year-earlier period.
The quarter included a seven-week strike of nearly 40,000 employees that Chief Financial Officer Fran Shammo would hurt second-quarter earnings and potentially cost up to 7 cents per share.
In its earnings release, that prediction rang true, with Verizon reporting that quarterly earnings were negatively impacted by about 7 cents due to the work stoppage. The company also noted it anticipates cash savings of $500 million over the term of its recently negotiated labor contracts.
"Verizon's second quarter shows that the company continues to deliver strong results while evolving operations," Chairman and CEO Lowell McAdam said in a statement. "By acquiring Yahoo, we will dramatically accelerate the timetable for scaling up to be a major competitor in mobile media. Yahoo is a complementary business to AOL, giving us market-leading content brands and a valuable portfolio of online properties and mobile applications."