Corporate earnings forecasts for the second quarter were lowered so much that companies are easily beating them.Market Insiderread more
The central bank is not normally in the business of easing into an economy that is showing few signs of a recession, generally holding fire until more pronounced signs of a...The Fedread more
His case for gold comes as central banks get more aggressive with policies that devalue currencies and are about to cause a "paradigm shift" in investing.Marketsread more
Challenging conditions in the U.S. housing market, along with tighter currency controls by the Chinese government, cause a stunning drop in foreign demand for American homes.Real Estateread more
House Speaker Nancy Pelosi says she wants her chamber to vote on a debt ceiling and budget deal by July 26.Politicsread more
Philips has acquired a start-up that texts you about your poop. That's Medumo, a Boston-based company, which works with hospitals to guide their patients through common...Technologyread more
The "'Cadillac tax," set to go into effect in 2022, is unpopular with both Republicans and Democrats, who say it punishes the middle class.Health and Scienceread more
Federal Judge William Pauley wrote in a court filing made public Wednesday that materials related to a campaign finance probe of Cohen should be unsealed — and denied a...Politicsread more
The U.S. economy continued growing at a "modest" rate in recent weeks, with consumers continuing to spend and a "generally positive" outlook overall even in the face of...Economyread more
CSX said it expects revenue to fall as much as 2% in 2019, well below a previous forecast of an increase of 1% to 2%.Marketsread more
Facebook's head of Calibra David Marcus is grilled during a House Financial Services Committee hearing over the company's digital currency plans.Technologyread more
Check out the companies making headlines after the bell:
Shares of Micron rose slightly in extended trading Wednesday following the release of the company's better-than-expected second-quarter earnings. Beating on the top and bottom line, the chipmaker reported earnings per share of $1.71 on revenue of $5.84 billion. Wall Street had estimated earnings per share of $1.67 on revenue of $5.82 billion, according to Refinitiv.
Micron's revenue compares to the $7.35 billion they earned in the same period last year. Micron President and CEO Sanjay Mehrotra cited a "challenging market environment" for the revenue decline in the company's earnings release.
Williams-Sonoma shares surged as much as 10 percent after hours Wednesday based on strong fourth-quarter earnings and 2019 guidance. The retail company's earnings per share were $2.10, topping Refinitiv estimates of $1.96. Revenue was $1.84 billion, beating estimates of $1.80 billion.
Williams-Sonoma same-store sales increased 2.4 percent, compared the 2.5 percent increase forecast by analysts. The company also announced a $500 million stock buyback program. The company increased its dividend 12 percent to 48 cents. The stock has since lost most of its gains, but was still trading 2 percent higher.
Shares of Guess plummeted more than 12 percent after market close Wednesday following mixed fourth-quarter earnings. The clothing company reported $837 million in revenue, beating a Refinitiv estimate of $831 million. Earnings per share were 70 cents, compared to the 75 cents forecast by analysts.
Herman Miller shares jumped more than 3 percent in extended trading Wednesday after issuing strong fourth-quarter guidance. For the third quarter, the furniture company reported earnings per share of 64 cents on revenue of $619 million. Analysts expected earnings per share of 60 cents on revenues of $623 million.
Herman Miller expects fourth-quarter earnings per share to be between 76 cents and 80 cents, compared to the estimated 72 cents. The company sees revenue between $645 million and $665 million, versus estimates for $655 million.