Stocks fell sharply on Thursday as U.S.-China trade worries persisted with more companies suspending business with Chinese telecom giant Huawei.Marketsread more
The yield on the 10-year Treasury note fell to its lowest level since 2017 as more traders grew confident in a longer U.S.-China conflict.Bondsread more
A Ministry of Commerce spokesperson does not single out any U.S. action, but it's been a tense couple of weeks for the trade war.World Politicsread more
"For them to say that they don't work with the Chinese government is false," Secretary of State Mike Pompeo tells CNBC.Politicsread more
Facebook has stopped paying commission to staff for selling political advertisements on its platform, The Wall Street Journal reported.Technologyread more
Oil prices dropped on Thursday, extending falls from the previous session amid surging U.S. crude inventories as low refinery runs and ongoing trade tensions weighed on the...Energy Commoditiesread more
U.S. manufacturer growth hit new lows in May, the latest sign that the economic slowdown accelerated amid the ongoing trade war.Economyread more
Wall Street is under pressure, but a handful of stocks are breaking out to new highs. McDonald's, Waste Management, Hershey, Visa and Costco have notched records this month,...Trading Nationread more
No timetable has been set on returning the money to outside investors in Tepper's Appaloosa Management, source says.Hedge Fundsread more
Huawei is winning over more and more Apple fans in China as the escalated trade tensions stoked "nationalist sentiment," according to South China Morning Post.Marketsread more
Celebrity chef Mario Batali is being charged with indecent assault and battery, more than a year after admitting to sexual misconduct.Restaurantsread more
Check out which companies are making headlines before the bell:
Wynn Resorts — CEO Steve Wynn resigned amid allegations of sexual misconduct, claims which Wynn has denied. The casino and hotel operator's president, Matt Maddox, was appointed CEO effective immediately.
Humana – The health care provider reported adjusted quarterly profit of $2.06 per share, beating estimates by 6 cents a share. Revenue also came in above estimates. Results were helped by a 24 percent membership increase in Humana's group Medicare Advantage programs. Humana also said it would benefit from the new tax law, giving adjusted 2018 earnings guidance of $13.50 to $14.00 per share, compared to the consensus estimate of $12.87. The company also increased its quarterly dividend by 25 percent to 50 cents per share.
Hasbro – The toy maker reported adjusted quarterly profit of $2.30 per share, beating the consensus estimates of $1.80 a share. Revenue came in below Street forecasts, hurt by a decline in sales for its partner brands and in the European region. The company also raised its quarterly dividend to 63 cents per share from 57 cents a share.
Michael Kors – The luxury goods maker posted adjusted quarterly profit of $1.77 per share, compared to the consensus estimate of $1.29 a share. Revenue topped forecasts, as well. Comparable-store sales did decline by 3.2 percent, but that was smaller than the forecast of a 6.8 percent drop from analysts polled by Thomson Reuters.
Walt Disney – Disney beat estimates by 28 cents a share, with adjusted quarterly profit of $1.89 per share. Revenue came in below forecasts. Disney saw declines at its broadcast and cable television units, though that was offset by stronger theme park attendance.
Lululemon — Chief Executive Officer Laurent Potdevin resigned from that job earlier this week in part because of his multi-year relationship with a female designer at the company, according to sources who spoke to CNBC.
Supervalu – Supervalu is being pushed by activist investor Blackwells Capital to explore options including a breakup and potential sale. Blackwells made its desire known in a letter to the supermarket operator's board of directors.
Chipotle Mexican Grill – Chipotle came in 2 cents a share above estimates, with adjusted quarterly profit of $1.34 per share. The restaurant chain's revenue matched forecasts. Comparable-restaurant sales rose less than expected, however, and Chipotle said it expected the number of visitors to its restaurants would keep declining through the middle of this year.
Snap – Snap reported a quarterly loss of 13 cents per share, smaller than the 16 cents a share loss that Wall Street analysts had anticipated. The Snapchat parent saw revenue comfortably beat forecasts, with active daily users increasing by 8.9 million to 187 million during the quarter.
Gilead Sciences – Gilead reported adjusted quarterly profit of $1.78 per share, compared to consensus estimates of $1.67 a share. The drugmaker's revenue also beat forecasts, though sales of its hepatitis C drugs declined by more than 50 percent and Gilead sees that decline continuing this year. The drugmaker raised its quarterly dividend by 10 percent to 57 cents per share.
Akamai Technologies – Akamai came in 6 cents a share above estimates, with adjusted quarterly profit of 69 cents per share. Revenue also beat forecasts. The internet technology company also said it had cut about 400 jobs, or 5 percent of its global workforce.
Match Group – Match earned an adjusted 29 cents per share for its latest quarter, 3 cents a share below estimates. The parent of dating websites like Match and Tinder saw revenue beat forecasts as the number of users and average revenue per user both rose.
Sanofi – Sanofi said it sees a return to profit growth this year, on the strength of recent acquisitions. The French drugmaker reported lower earnings for the fourth quarter, however, and gave a forecast that fell short of some analysts' estimates.
Rio Tinto – Rio Tinto reported its highest annual profit in three years, with the mining company also announcing a record annual dividend and an additional $1 billion for its stock buyback program.
Tronc – Tronc is in talks to sell the Los Angeles Times, according to Reuters quoting a source familiar with the matter. The buyer is said to be billionaire biotech investor Patrick Soon-Shiong, who also plans to buy San Diego Union-Tribune, a sister newspaper to the LA Times.
Alphabet – The Google parent named former Time Warner Cable executive Dinesh Jain as CEO of its internet service unit, the third head of that unit in less than two years.