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
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
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
The service will be available on popular platforms such as Apple TV, Google Chromecast and Roku, but not Amazon's Fire TV.Technologyread more
"If he had brought all of his data to the SEC first, he would reap potentially, up to 30% of the potential recovery," says former SEC Chairman Harvey Pitt.Investingread more
Video game stocks got killed Wednesday after two of the top companies in the space reported quarterly earnings.
Take-Two Interactive, which reported quarterly earnings Wednesday morning, fell nearly 14 percent in early trading.
The company reported GAAP net revenue of $1.249 billion and GAAP net income per diluted share of $1.57.
The reports appeared to drag Activision Blizzard lower as well. The company doesn't report its quarterly earnings until next week, but the stock fell 10 percent Wednesday.
EA's Chief Executive Andrew Wilson said heightened competition in the gaming space dented the company's sales during the quarter. Gaming companies are seeing a particular threat from free-to-play games like the wildly popular "Fortnite."
"Our [Battlefield V] launch didn't resonate as strongly as we would have liked it to with players, and we were never truly able to catch up," Wilson said on the company's earnings call Tuesday. "And as our competitors continued to build momentum, whether that was 'Fortnite' or 'Red Dead Redemption 2' or 'Call of Duty,' we continued to stall from where we needed to be."
Take-Two, for its part, said its title launches outperformed expectations. In October, the company launched "Red Dead Redemption 2," which it says sold more units in the first eight days than the original title sold in its first eight years.
"We don't see [a competitive environment] at all," CEO Strauss Zelnick told CNBC's "Squawk on the Street " Wednesday. "We are not seeing any competitive headwinds at all as long as we deliver quality."
Zelnick said the company admires "big hits" out of other companies, like "Fortnite," but isn't concerned about new free-to-play threats.
"In terms of a console title being made available free-to-play. Remember that 'Fortnite' came about in a roundabout way," Zelnick said on the company's earnings call. "I think that's sort of a standalone experience. I think it's hard to replicate and it would probably be ill-advised to try to replicate it. ... I'm not worried at all about someone else establishing a free-to-play approach."
Clarification: This story has been updated to remove an incorrect metric around Take-Two Interactive's fiscal third quarter 2019 earnings report. Take-Two Interactive's earnings per share figure is not comparable to estimates.