A surface-to-air missile shot down a U.S. military drone over the Strait of Hormuz, a U.S. official said Thursday.World Politicsread more
President Donald Trump has publicly blamed the Federal Reserve's interest rates hikes for holding back U.S. economic growth.The Fedread more
Slack's public market debut on Thursday will generate billions for venture firm Accel and healthy returns for Andreessen Horowitz and Social CapitalTechnologyread more
China's President Xi Jinping arrived in Pyongyang on Thursday morning for a state visit to North Korea — the first by a Chinese state leader in 14 years. Experts say the move...Asia Politicsread more
Gold prices spiked in the afternoon of Asian trading hours on Thursday after a dovish U.S Federal Reserve opened the door to further rate cuts, and the 10-year Treasury yield...Metalsread more
Waymo has signed a deal with Renault and Nissan to develop self-driving cars and trucks for use in France, Japan and possibly other countries in Asia, including China, the...Autosread more
Employer medical costs are projected to rise by 6% next year, after averaging about 5.5% annually over the last three years, according to PwC.Health and Scienceread more
Voice technologies have a long way to go before they can be reliably used for health and medical services, but Google is furthest along.Technologyread more
The Fed came very close to promising a rate cut Wednesday, and now markets are focused on a possible July rate cut.Market Insiderread more
Ireland has become the main regulator enforcing rules on how big tech companies collect and process user data under Europe's privacy law called GDPR.Technologyread more
It's crucial to note that the culprit behind attacks on two commercial tankers last week has not been conclusively proven.World Politicsread more
The Nasdaq is set for a tumble this morning after a worse-than-expected forecast from Facebook (FB) that sent that stock down as much as 25 percent in after-hours trading. The Nasdaq had set a record closing high in Wednesday trading. (CNBC)
Facebook (FB) shares were 16 percent lower in premarket. The company said revenue growth would slow during the second half of the year and expenses would be higher. It did beat estimates by two cents with profit of $1.74 per share, but revenue and other key metrics fell short. (CNBC)
* Facebook has a history of earnings calls that hurt the stock (CNBC)
Dow component McDonald’s (MCD) and NBCUniversal parent Comcast (CMCSA) highlight another busy morning for corporate earnings. Amazon.com (AMZN), Chipotle Mexican Grill (CMG) and Starbucks (SBUX) are among the headliners in today’s after-the-bell earnings. (CNBC)
A double dose of economic reports comes at 8:30 a.m. ET, with the release of initial jobless claims and June durable goods orders. The European Central Bank will hold its regular monetary policy meeting, with a rate decision and policy statement set for 7:45 a.m. ET. (CNBC)
President Donald Trump said the U.S. and EU launched a "new phase" in their relationship, saying that they would start negotiations immediately on a number of areas that include working toward "zero tariffs" on industrial goods. (CNBC)
* Senators unveil bipartisan bill meant to delay Trump auto tariffs (CNBC)
House Freedom Caucus members escalated their battle against the DOJ, filing articles of impeachment against Deputy Attorney General Rod Rosenstein for what they allege is his failure to hand over documents about the Russia investigation. (USA Today)
North Korea will transfer the remains of an unspecified number of soldiers killed in the Korean War on Friday after accepting about 100 wooden caskets sent by the United States, according to a report. (Reuters)
A single attacker detonated a bomb near the U.S. embassy in Beijing today, an embassy spokesperson told NBC News. There were no injuries, other than to the bomber, the official and Chinese police said.
CNN said one of its White House correspondents was excluded from covering one of Trump’s events on Wednesday. They were barred after asking earlier about an audio recording between Trump and his former lawyer, Michael Cohen. (Reuters)
Qualcomm (QCOM) officially terminated the deal to buy NXP Semiconductors (NXP) after failing to get a decision from China regulators by last night’s deadline. Qualcomm will proceed with a $30 billion stock buyback program. (CNBC)
Tesla whistleblower Martin Tripp — who CEO Elon Musk characterized as a saboteur and disgruntled ex-employee — is slated to meet with the U.S. Securities and Exchange Commission, his attorney told CNBC.
The health unit at Microsoft is a multi-billion dollar business, the company's chief medical officer said on CNBC's new "Beyond The Valley" podcast. Microsoft is using A.I. and cloud to help bring technology to health care.
Ford Motor (F) reported adjusted quarterly profit of 27 cents per share, four cents short of forecasts, thought the automaker’s revenue did come in slightly above forecasts. Ford also cut its full-year forecast, pointing to slower sales in China as well as trade tariffs, as well as continued struggles in the European market.
Gilead Sciences (GILD) reported adjusted quarterly profit of $1.91 per share, beating the consensus estimate of $1.56. The drug maker’s revenue was also above Street forecasts. Separately, Gilead announced that CEO John Milligan and Chairman John Martin would be stepping down by the end of the year. Gilead is launching a search for a new CEO.
Visa (V) came in 11 cents above estimates with adjusted quarterly profit of $1.20 per share, while revenue also topped forecasts as more customers spent money using their credit cards. However, Visa also saw weaker than expected payment volume during the quarter.
Mondelez (MDLZ) beat estimates by two cents with adjusted quarterly profit of 56 cents per share, though the snacks maker’s revenue was just shy of forecasts. Mondelez also raised its full-year forecast on improving sales trends, and its organic revenue growth topped analyst projections.
Mattel (MAT) lost 56 cents per share for its latest quarter, a larger loss than the 30 cents analysts had been projecting. The toy maker’s revenue also missed forecasts, hurt by the Toys R Us liquidation, and the company also announced it would be cutting 2,200 jobs or about 22 percent of its global non-manufacturing workforce.
Advanced Micro Devices (AMD) came in a penny ahead of estimates with adjusted quarterly profit of 14 cents per share, while the chip maker’s revenue was also above estimates. AMD was helped by a jump in demand for personal computers.
A watery lake beneath an ice cap was detected on Mars for the first time, raising the potential for alien life. The body of water appears similar to underground lakes found on Earth in Greenland and Antarctica. (NY Times)