House Democrats contend the $15 per hour minimum wage bill will lift workers who have not seen the benefits of a strong economy.Politicsread more
Microsoft beat on top and bottom lines but Azure growth slowed.Technologyread more
Trump said the USS Boxer destroyed Iran's drone in the Strait of Hormuz on Thursday in a "defensive action."Politicsread more
Stocks erased earlier losses, but the rise was kept in check as Wall Street digested a mixed batch of corporate earnings results.US Marketsread more
The Philadelphia Fed saw its primary gauge measuring the sector jump from 0.3 in June to 21.8, far better than Wall Street estimates of 5 and the highest in a year.Economyread more
"It's better to take preventative measures than to wait for disaster to unfold," Williams told the annual meeting of the Central Bank Research Association.The Fedread more
The fact that interest rates are relatively low makes the idea of a so-called insurance rate cut later this month an attractive option for the Fed.Market Insiderread more
Video of the event does not show the president disagreeing with his supporters. Instead, it shows that Trump paused as the chant began, allowing his supporters to continue...Politicsread more
President Trump said he's looking at the JEDI Contract that will be awarded to Microsoft or Amazon.Technologyread more
Business advocacy organizations sharply criticized the House of Representatives for passing a bill to raise the minimum wage to $15, saying it would be a costly job killer.Politicsread more
Wealthy clients liquidate some investments every year to cover their tax bill, so presumably this was higher than what Morgan Stanley has seen previously.Financeread more
Check out the companies making headlines after the bell:
Hewlett Packard Enterprise shares rose as much as 1 percent after its fourth-quarter earnings report beat analysts' estimates. The company reported earnings of 45 cents a share on revenue of $7.95 billion. Analysts had expected 43 cents a share on revenue of $7.84 billion.
HP Enterprise segments Hybrid IT and Intelligent Edge revenues were above estimates, while financial services were below analysts' estimates.
Shares of chipmaker Marvell Technology gained over 4.5 percent during after hours trading on Tuesday. The company narrowly beat third-quarter earnings expectations, reporting 33 cents per share versus an estimate of 32 cents per share. Marvell reported $851 million in revenue, surpassing estimates of $844 million, but reported weak guidance for fourth-quarter revenue.
Ollie's Bargain Outlet shares plummeted 7 percent during after hours trading Tuesday despite beating estimates for the third quarter. The retail chain reported earnings of 32 cents a share on $284 million revenue. Analysts had expected earnings of 31 cents a share on $278 million revenue, according to a consensus estimate from Refinitiv. Comparable sales were up 4.6 percent versus 3.1 percent estimated.
The company also reported a cash balance of $0.7 million at the end of the third quarter compared to $42.2 million a year ago. The retailer used $42 million cash on hand to purchase 12 former Toys "R" Us stores, according to a press release.
MongoDB shares climbed 3 percent after the company reported smaller-than-expected losses of 30 cents per share. Analysts estimated losses of 40 cents per share. The database program company also beat expectations on revenue, reporting $65 million revenue versus $60.3 million expected. MongoDB's fourth-quarter guidance was strong.