Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
Federal Reserve Vice Chair Richard Clarida said Friday that the global economy has deteriorated in the past month.Marketsread more
The latest escalation in the trade war ups the odds the economy will fall into recession and that the Fed will aggressively cut rates.Market Insiderread more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
"My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?" Trump wrote amid a series of tweets that rattled markets Friday.Politicsread more
"I would love this to be clarified. We come to a deal on trade, boy, this market is up 10 to 15%, but without it's going to be worrisome," Jeremy Siegel says.Marketsread more
The final week of August could be highly volatile as markets fret over the economy and the latest developments in trade wars.Market Insiderread more
The death comes as federal and state health officials investigate a slew of lung illnesses in connection to e-cigarette use.Health and Scienceread more
Bank of England Governor Mark Carney says trade war has a confidence effect on business around the worldMarketsread more
In an SEC filing, the company said Giannetto will continue in his role until the company appoints a successor.
Sonos reported earnings per share of $0.55 versus $0.41 expected by analysts, per Refinitiv, and quarterly revenue of $496 million versus $491 million expected. The company reaffirmed guidance for its 2019 fiscal year, which ends Sept. 30: It expects EBITDA of $83 million to $88 million on revenue of $1.25 billion to $1.28 billion.
Sonos was an early pioneer in wireless home audio, but faces increasing competition from lower-priced offerings from tech giants like Google, Amazon, and Apple. The company made its public market debut last August, and shares are down about 30% from that time.
In a letter to investors, Sonos said its growth in Europe was slower than expected since the growing adoption of voice in the region was skewed toward low-priced products.
"So, while we believe we benefited from consumers upgrading to Sonos in North America, our growth in Europe was slower as voice is in an earlier stage of adoption," Sonos wrote. "As European consumers increasingly embrace voice technology, we are optimistic we will benefit from a similar step-up trend in Europe in the future."