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
China's pursuit of the Middle East may spur growth in the Islamic finance sector.World Economyread more
Twitter and Facebook have suspended accounts believed to be tied to a state-backed disinformation campaign originating from inside China.Technologyread more
United States Steel Corp will temporarily lay off hundreds of workers at its Great Lakes facility in Michigan in coming weeks, according to a filing the steelmaker made with...US Marketsread more
The report comes as Trump in recent days has lashed out over media reports about growing recession fears.Politicsread more
Beijing will lower borrowing costs for companies, but that may not boost the economy as much as some hope.China Economyread more
Stocks are bouncing higher but could be trapped in a range longer term, until there's a resolution of the trade wars.Market Insiderread more
Stocks in Asia mostly traded higher Tuesday morning as minutes from the Reserve Bank of Australia's July meeting were released. The People's Bank of China also published its...Asia Marketsread more
Powell will have the opportunity if not to walk back the "midcycle" assessment then to at least provide some further explanation about what it means.Economyread more
Apple has spent more than $6 billion on original TV shows and movies for its forthcoming Apple TV+ service, according to a Financial Times report on Monday.Technologyread more
The Business Roundtable, led by Jamie Dimon, gives a new definition of the "purpose of a corporation."Marketsread more
Check out the companies making headlines after the bell:
American Eagle Outfitters shares fell more than 4 percent after hours Wednesday based on mixed fourth-quarter earnings and light first-quarter guidance. The retailer posted $1.24 billion in revenue, missing Refinitiv estimates of $1.26 billion. Earnings per share were 43 cents, topping estimates of 42 cents. The company's same-store sales increased 6 percent, in line with estimates.
American Eagle issued weak first-quarter guidance. The company estimates earnings per share between 19 and 21 cents, compared to the 24 cents expected by analysts.
Shares of Allergan fell more than 3 percent after hours Wednesday after announcing disappointing test results for its depression treatment. The pharmaceutical company released a statement saying its three studies of "rapastinel" as a treatment of Major Depressive Disorder were unsuccessful.
"We are deeply disappointed with these results, and they are a vivid reminder that drug development is extremely challenging, especially in mental health," said David Nicholson, chief research and development officer at Allergan. "We remain committed to the development of new life changing medications to combat the rising global toll of mental illness."
Shares of Guidewire Software jumped more than 8 percent after market close Wednesday based on better-than-expected second-quarter earnings and strong guidance. Beating on the top and bottom lines, the software publisher company earned $169 million in revenue, while analysts expected $160 million. Guidewire reported earnings per share of 34 cents, well above the 19 cents forecast by analysts surveyed by Refinitiv.
Guidewire issued strong third-quarter revenue guidance: Between $152.5 and $156.5 million, compared to the $148.6 million forecast by Wall Street. Earnings per share guidance was in line with estimates: between 5 and 9 cents, while analysts estimated 5 cents.
Yext shares ticked higher and later dipped negative in extending trading Wednesday after reporting better-than-expected fourth-quarter earnings. The technology company posted a loss of 3 cents per share, 6 cents above estimates. Revenues were $63.8 million, beating estimates of $62.8 million.
Yext issued first-quarter earnings per share and revenue guidance in line with estimates. For 2020, the company sees a loss per share of between 40 and 44 cents, while analysts estimated a loss of 38 cents, according to Refinitiv.