The Fed cut interest rates by a quarter point, but it also reaffirmed its rate cut was meant to serve as insurance for the economy.Market Insiderread more
The plan will allow Medicare to negotiate lower prices on as many as 250 drugs and also apply those discounts to private health plans.Health and Scienceread more
The U.S. economy will have a tough time at the start of 2020, says the head of one of the largest bond managers in the world.Delivering Alpharead more
President Donald Trump on Thursday filed a lawsuit against Manhattan District Attorney Cyrus Vance Jr. and his longtime accounting firm Mazars.Politicsread more
A new Hollister store is coming later this month to New York, right down the block from Macy's, Target and Victoria's Secret in the busy Herald Square shopping district.Retailread more
The Amazon CEO spoke in Washington D.C. about the company's sustainability efforts.Technologyread more
The former CEO of Overstock announced that he's dumped all of his equity and blamed both the "deep state" and the government for his exit.Marketsread more
Investors are asking how the world's third-largest defense spender could have left itself so vulnerable and what that means for the future.Politicsread more
A decline in mortgage rates throughout much of the summer has helped buyers.Housingread more
Jay Clayton, opening speaker at the Delivering Alpha conference, also cautions about the difficulty of "price discovery" for investors trying to cash in on crypto.Delivering Alpharead more
Gelson's, an upscale grocery store chain with 27 locations across Southern California, will sell 12-ounce packages of the Impossible Burger.Food & Beverageread more
Check out the companies making headlines after the bell:
Etsy shares surged as much as 12 percent after hours Monday based on strong fourth-quarter earnings. Beating on the top and bottom lines, the e-commerce company posted earnings per share of 32 cents on revenues of $200 million. Wall Street forecast earnings per share of 21 cents on revenues of $194.9 million, according to Refinitiv. Active buyers increased 18.2 percent and active sellers increased 9.4 percent year over year. 2018 gross merchandise sales increased 20.4 percent year over year to $3.9 billion.
Shares of Hertz Global rose more than 16 percent after market close Monday following better than expected fourth-quarter earnings. The car rental company posted a loss of 55 cents per share, while analysts expected a loss of 90 cents. Revenue came in at $2.29 billion, slightly higher than the forecast $2.15 billion surveyed by Refinitiv.
Shares of Shake Shack rose more than 3 percent and then turned negative, trading down 2 percent after hours Monday following the release of the restaurant company's better-than-expected fourth-quarter earnings. Earnings per share were 6 cents, beating Refinitiv estimates of 3 cents. Revenue was $124.3 million, higher than the expected $118.8 million. Same stores sales were up 2.3 percent for the quarter, while analysts expected a 1.5 percent decrease. Shake Shack issued light 2019 revenue guidance: between $570 and $576 million, vs. the estimated $576 million. The fast-food chain gave flat guidance for 2019 same-store sales.
Shares of Sage Therapeutics dropped more than 5 percent in extended trading based on a release that the pharmaceutical company began a public offering of $500 million of its common stock. Sage also intends to give underwriters a 30-day option to purchase up to an additional $75 million of its common stock offered in the public offering, according to the release.
Rent-A-Center shares jumped more than 5 percent after the bell following the release of the furniture company's strong fourth-quarter earnings. Earnings per share were 35 cents, beating estimates by 15 cents. Revenue was $661.8 million, higher than the expected $656.8 million. Rent-A-Center issued mixed 2019 guidance. It sees revenue between $2.58 billion and $2.63 billion, compared to the estimated $2.62 billion. 2019 earnings guidance was mostly above estimates, coming in between $1.75 and $2.15 per share vs. the forecast $1.77.
Shares of Tenet Healthcare soared more than 12 percent in extended trading Monday after posting better-than-expected fourth-quarter earnings and strong full-year guidance . The healthcare company posted earnings per share of 51 cents on revenues of $4.62 billion. Analysts expected earnings of 28 cents on revenues of $4.51 billion, according to Refinitiv. Tenet issued weak first-quarter earnings guidance: between 10 to 43 cents per share, compared to the forecast 41 cents. Full-year earnings guidance was strong: between $2.08 and $2.59, vs. the estimated $1.94.