Investors largely expected the FOMC to cut rates by a quarter point.The Fedread more
As the Fed was meeting to consider cutting interest rates, it lost control of the very benchmark rate that it manages.Market Insiderread more
Federal Reserve Chairman Jerome Powell said the he does not see the Fed using negative interest rates in the future.The Fedread more
The decision to cut rates followed a monthslong pressure campaign by Trump, who often criticized Chairman Jerome Powell by name as he called for lower interest rates.Politicsread more
Steve Dowling, the head of Apple's public relations department, announced he will be leaving this week.Technologyread more
Tracy Britt Cool is leaving the firm after a decade to start a company that replicates Warren Buffett's business model, the Wall Street Journal reported.Marketsread more
The Dow Jones Industrial Average erased a 211-point drop as investors digested the latest monetary policy announcement by the Federal Reserve.US Marketsread more
A New York-based blockchain consulting firm allegedly extorted a Seattle-based crypto start-up with threats to hijack its initial coin offering, in a case announced Wednesday...Technologyread more
According to a report in the Wall Street Journal, WeWork co-founder Adam Neumann has floated the idea of becoming Israel's prime minister or leader of the world.Technologyread more
Powell said on Wednesday that the Fed may have to resume regular balance sheet growth to help ease money markets.The Fedread more
The interest on excess reserves now stands at 1.8%, a 30 basis point cut compared with the 25 basis point reduction for the benchmark funds rate.The Fedread more
Check out the companies making headlines after the bell:
Shares of Stitch Fix surged more than 20 percent in extended trading Monday following the release of the personal styling company's better-than-expected second-quarter earnings and strong full-year outlook. Stitch Fix posted earnings per share of 12 cents on revenues of $370 million. Wall Street expected earnings of 5 cents on revenues of $365 million, according to Refinitiv.
Stitch Fix's active clients increased 18 percent to 2.96 million and beat the estimated 2.95 million.
"Since becoming a public company, we have posted six consecutive quarters of over 20% growth, which demonstrates our ability to drive consistent business performance," said Stitch Fix founder and CEO Katrina Lake in a release.
Stitch Fix issued strong third-quarter and full year guidance.
Coupa Software shares ticked as much as 2 percent lower after hours Monday despite posting better-than-expected fourth-quarter earnings. The technology company reported earnings per share of 5 cents, compared to the 0 cents forecast by analysts. Revenue was $74.9 million, topping estimates of $67.7 million.
Shares of Casey's General Stores fell nearly 2 percent after market close Monday following mixed third-quarter earnings. The convenience store company earned $2.05 billion in revenue, missing Refinitiv estimates of $2.13 billion. Earnings per share were $1.13, compared to the 95 cents analysts forecast. The stock later regained most of its post-market losses to trade slightly negative.
ADT shares dropped as much as 8 percent after hours Monday following fourth-quarter earnings. The security company posted revenue in line with estimates at $1.2 billion. ADT issued light full-year 2019 revenue guidance: between $4.9 and $5.1 billion, compared to the $4.9 billion surveyed by Refinitiv.