Indian billionaire investor Rakesh Jhunjhunwala says he's very upbeat about his country's growth potential after the country underwent a massive banking crisis and the rollout...Asia Economyread more
Morgan Stanley has cut its bear (worst-case) forecast on Tesla's stock from $97 to just $10, citing concerns about the company's increased debt load and geopolitical exposure.Autosread more
Home Depot on Tuesday reported fiscal first-quarter earnings that beat analysts expectations, despite a damp start to the spring in much of the U.S.Retailread more
There's more pain ahead for the U.S. and China amid their bilateral trade dispute, according to one expert.China Politicsread more
Alphabet Inc's Google said Tuesday that keeping phones up to date and secure was in "everyone's best interests," shortly after the U.S. temporarily eased some trade...Technologyread more
You know there's an underlying problem when investment firms start to cut exposure to a particular asset class.Commentaryread more
While Trump's lawyers had argued that the committee's subpoena did not have a legitimate legislative purpose — and was therefore invalid — Mehta took a broader view.Politicsread more
The issue of corporate debt has surfaced as companies continue to use the low rates the Fed has provided to lever up their balance sheets.The Fedread more
A record 257.4 million travelers are expected to opt for U.S. airlines for travel this summer, the 10th consecutive annual increase, a trade group forecast on Tuesday.Airlinesread more
The announcement comes amid a wave of store closures across the country this year.Retailread more
Check out the companies making headlines after the bell:
Shares of Zillow fell as much as 8 percent in extended trading and then regained those losses to trade up more than 8 percent after the online real estate company announced its CEO Spencer Rascoff will be stepping down. Zillow co-founder and former CEO Rich Burton will return to lead the company and Rascoff will remain on the board of directors.
The announcement coincided with the company's tepid earnings. Though the company beat on revenue, earning $365 million vs. the estimated $351 million, earnings per share were in line with estimates at 1 cent. Zillow did issue strong first-quarter guidance: between $417 and $443 million in revenue, vs. the estimated $404 million. The stock later gained back most of its loses after hours.
Shares of Kraft Heinz tumbled more than 10 percent after the market close Thursday following weak fourth-quarter results and the disclosure of an SEC subpoena. Kraft reported earnings per share of 84 cents on revenues of $6.89 billion. Analysts forecast earnings per share of 94 cents on revenues of $6.93 billion. The company also disclosed it was subpoenaed by the SEC in October 2018 regarding its accounting policies.
Hewlett Packard Enterprise shares shot up as much as 4 percent after the market close following the release of the software company's mixed first-quarter results. Earnings per share were 42 cents, beating Wall Street expectations of 35 cents. But HP Enterprise missed on its top line, posting $7.55 billion in revenue versus $7.6 billion forecast by Refinitiv.
HP Enterprise sees full-year 2019 earnings per share between $1.56 and $1.66, vs. the estimated $1.58.
Dropbox shares rose slightly and then fell more than 8 percent after hours Thursday after posting better-than-expected fourth-quarter earnings but also giving disappointing guidance. The software company beat on the top and bottom lines, reporting revenues of $376 million, compared to the Refinitiv estimate of $370 million. Adjusted earnings per share were 10 cents, versus the 8 cents forecast by analysts. Paying users reached 12.7 million, beating the expected 12.54 million. Average revenue per user increased to $119.61, vs. the forecast $118.48.
Shares of Roku surged as much as 6 percent in extended trading Thursday following the release of their better-than-expected fourth-quarter earnings. The digital media player manufacturer posted earnings per share of 5 cents on revenues of $276 million. Wall Street forecast earnings per share of 3 cents on revenue of $262 million, according to Refinitiv.
First Solar shares dropped more than 4 percent in after hours trading Thursday after the release of the semiconductor manufacturing company's fourth-quarter earnings. First Solar earned $691 million in revenue, missing Refinitiv estimates of $804 million. Earnings per share were 49 cents, 15 cents below expectations.