Pelosi also said it's "irrelevant" whether approving the USMCA trade deal would give President Donald Trump a victory ahead of the 2020 election.Politicsread more
Brent crude oil jumped the most in history in the previous session after attacks on Saudi's oil industry disrupted the kingdom's production.Marketsread more
General Motors stands to lose hundreds of millions of dollars in lost production as a United Auto Workers union strike against the automaker enters its second day, but Wall...Autosread more
The fallout from two fatal crashes of Boeing 737 Max planes has ensnared the manufacturer's most-loyal customer: Southwest Airlines. The carrier has canceled thousands of...Airlinesread more
The White House and General Motors on Tuesday are decrying a Politico report that the Trump administration has gotten involved with the automaker's contract negotiations with...Autosread more
WeWork hopes to sharpen its story for investors as it works to get its on-again, off-again IPO back on track.Technologyread more
The Justice Department said it was seeking to recover "all proceeds earned by Snowden because of his failure to submit his publication for pre-publication review in violation...Politicsread more
"It is really a tale of pretty failed governance, almost of the highest order, short of something fraudulent," says the tech investor.Deals and IPOsread more
Private equity firm 3G Capital Partners discloses that it sold 25.1 million shares of Kraft Heinz, bringing its stake down by about 9%.Marketsread more
"That leads the developed world to say to China: 'We've got to rebalance this. It's working for you. It's not working for us,'" says the billionaire Blackstone co-founder.Economyread more
Microsoft founder Bill Gates added $16 billion to his net worth this year, despite giving away over $35 billion to charity, according to Bloomberg.Wealthread more
Fitbit reported quarterly results and revenue that beat analysts' expectations on Wednesday.
Here's how the company did compared with what Wall Street expected:
In the year-ago period, Fitbit reported earnings of 12 cents a share on revenue of $586.5 million.
The company said it sold 3.4 million devices during the quarter, about in line with the 3.47 million that analysts had expected, according to a StreetAccount consensus estimate.
The stock initially gained more than 8 percent in after-hours trading. The stock pared some of its early gains, but was last still trading more than 4 percent higher.
Co-founder and CEO James Park said better-than-expected demand led to higher sales and inventory reduction.
"Our smartwatch, which we believe will deliver the best health and fitness experience in the category, is on track for delivery ahead of the holiday season and will drive a strong second half of the year," Park said in a statement.
In order to keep pace with competitors such as Apple, Fitbit's research and development team is exploring the medical sector. The company said it is working on tools to help diagnose and monitor sleep apnea.
The stock has fallen 62 percent in the past year amid slowing sales. Shares of Fitbit hit a 52-week intraday low of $4.90 on June 22.
This is breaking news. Please check back for updates.