The Business Roundtable, a group of CEOs of nearly 200 major U.S. corporations, gave 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 recessionUS Marketsread 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
Since its IPO 15 years ago, Google has become more and more powerful. Today, that power is being highly scrutinized.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
The New York City police officer who used a chokehold on Eric Garner in an encounter that ended with Garner's death has been fired, New York City Police Commissioner James...Politicsread more
These are the stocks posting the largest moves midday.Market Insiderread more
The president said the Fed has been hampered by a "horrendous lack of vision" and said it should institute 100 basis points worth of reductions in its benchmark rate.Marketsread more
Investors should be careful not to buy or sell stocks based on last week's brief inversion of the yield curve in the bond market, CNBC's Jim Cramer warns.Investingread more
There is no short-term turnaround in sight for General Electric's power business, according to UBS.
The firm lowered it price target to $13 from $16 for GE shares, citing pricing pressures and share losses in the key market. UBS also reiterated its neutral rating for the industrial giant.
"Power market improvement is needed to make a meaningful impact on earnings, but we see signs the market is deteriorating," analyst Steven Winoker said in a note to clients Wednesday. "While cost-out remains a primary focus for the business, the end markets are far from cooperative with regard to pricing, demand and competition — and if anything require even more aggressive cost reductions, forcing GE into a vicious cycle."
GE shares fell nearly 1 percent Wednesday.
The analyst noted that the company's second-quarter power business orders and sales were down 26 percent and 18 percent, respectively. He said GE had a 47 percent share of the global large gas turbine business from 1997 to 2017 versus only 11 percent this year.
"GE Power has not yet found a bottom in our view due to a continued deceleration in the gas power equipment and services market," Winoker said. "We believe GE continues to face challenges related to Power, tax, Capital, litigation, portfolio and cash headwinds/uncertainty."
GE shares declined 49 percent in the past 12 months through Tuesday versus the S&P 500's 18 percent return.
The company did not immediately respond to a request for comment.
— CNBC's Michael Bloom contributed to this story.