Stocks dropped after Donald Trump ordered that U.S. companies find alternatives to their operations in China.US Marketsread more
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
Multinationals that rely on the supply chain from China are tumbling after President Donald Trump ordered them find alternatives to their Chinese operations.Marketsread more
President Trump again rips into Federal Reserve Chairman Jerome Powell, comparing him to Chinese President Xi Jinping.Politicsread more
China says the new tariffs will begin Sept. 1 and Dec. 15. That's when President Trump's latest tariffs on Chinese goods are to take effect.Marketsread more
Powell repeats his pledge to keep the economic expansion going while acknowledging that tariffs and other factors are causing growth to slow.The Fedread more
In a series of tweets Friday, Trump called on American companies to look for "an alternative to China," singling out FedEx, UPS, Amazon and the U.S. Postal Service...Transportationread more
The Koch brothers financed one of the most influential political networks in the modern era. The sprawling political empire includes conservative and libertarian nonprofits...Politicsread more
The president tweeted Friday morning that he was ordering "our great American companies" to "immediately start looking for an alternative to China."Marketsread more
These are the stocks posting the largest moves in midday trading.Market Insiderread more
The two American car companies are among the top exporters of U.S.-produced vehicles to China along with BMW and Daimler/Mercedes-Benz, according to industry data obtained by...Autosread more
Check out the companies making headlines midday Friday:
Kraft Heinz — Shares of Kraft Heinz plummeted 27.46 percent after the company announced a $15.4 billion write down of its Kraft and Oscar Mayer brands. The company also disclosed a Securities and Exchange Commission subpoena as part of a probe into its accounting policies and cut its dividend.
J.M. Smucker, Dean Foods, Conagra Brands, Kellogg, General Mills — Shares of these consumer products companies were dragged down by Kraft Heinz's sharp decline. They were all down at least 0.8 percent.
Intel — Morgan Stanley upgraded Intel to overweight from equal weight, citing a potential rally under CEO Bob Swan's leadership. "We think that Intel can rerate higher around a more financially oriented CEO," Morgan Stanley said. Intel shares rose 2.1 percent.
Wayfair — Shares of Wayfair leaped 27.9 percent on better-than-expected fourth-quarter results. The online furniture retailer posted an adjusted loss of $1.12 per share, which is smaller than a Refinitiv estimate of $1.28. The company's revenue also topped estimates. Wayfair added its active consumer count jumped more than 15 percent.
Roku — Shares of Roku jumped 25.2 percent on a better-than-expected fourth-quarter earnings and an active account growth of over 40 percent. The company also reported revenues that were $14 million higher than expected and earnings that surpassed a Refinitiv estimate by 2 cents.
Zillow — Zillow shares surged 26.37 percent after the real estate database company announced CEO Spencer Rascoff was leaving his post. The company also said Rich Barton, one of Zillow's co-founders, was taking over as chief executive.
Boyd Gaming — The gaming and hospitality company's stock rose 9.6 percent in midday trading after releasing its quarterly results. Boyd Gaming posted adjusted earnings per share of 32 cents, in line with expectations. The company also reported revenue of $791.6 million, topping a Refinitiv estimate of $774.3 million.
Intuit — Intuit reported adjusted earnings of $1 per share for its fiscal second quarter, topping a Refinitiv estimate of 86 cents. The company also said its revenue increased by 12 percent as sales from its small business online ecosystem expanded by 38 percent. Intuit shares jumped 6.77 percent.
Stamps.com — Shares of Stamps.com plummeted more than 57 percent after the company dissolved its longtime partnership with the U.S. Postal Office. The company said it did so in a bet on Amazon's success in shipping and logistics.