Coca-Cola shares jumped more than 4% after the company posted earnings and revenue that topped analyst expectations. United Technologies advanced nearly 2%.US Marketsread more
The IMF trims its economic growth forecast again as the U.S.-China trade war continues, Brexit worries linger and inflation remains muted.Economyread more
In advance of Amazon's earnings report on Thursday, Craig Johnson says the stock chart is pointing to big gains. Mark Tepper also likes the stock.Trading Nationread more
Citigroup thinks Tesla investors hoping for a post-earnings rally later this week should scrutinize a pair of related financial metrics.Investingread more
Olive branches were extended from both China and the U.S. as the two nations are set to restart face-to-face trade negotiations after a monthlong truce.Marketsread more
Coca-Cola topped Wall Street's expectations for earnings and revenue.Food & Beverageread more
New disclosures show Facebook and Amazon each spent more than $4 million on lobbying activity in the second quarter of 2019.Technologyread more
Boris Johnson, one of the biggest voices in the Brexit movement, wins the Conservative Party leadership race by a 2-1 margin.Europe Politicsread more
Disney can nearly double its earnings by 2024, Morgan Stanley said in a note to clients on Tuesday.Investingread more
Amazon is expected to report its second-quarter earnings on Thursday.Investingread more
The largest residential brokerage company in the U.S. is partnering with the largest online retailer in a strategy to boost sales for both.Real Estateread more
Check out the companies making headlines midday Wednesday:
Under Armour — Shares of Under Armour rose more than 3% after Citi upgraded its rating on the athletic apparel maker to buy from neutral, saying Under Armour is "growing up" with a "renewed focus on driving profitability."
Tesla — Shares of Tesla rose more than 1% after lawmakers began to push to expand federal tax credits for buyers of electric vehicles. A bipartisan group of lawmakers aims to grant each automaker $7,000 in additional tax credits for an additional 400,000 vehicles after it exhausts the first 200,000 vehicles eligible for the tax credit as per existing laws.
Lyft — Shares of Lyft tumbled nearly 11% following skepticism of the company's value amidst reports that rival Uber will unveil its public offering on Thursday. New York University professor Aswath Damodaran said Tuesday on CNBC that shares should be trading closer to $59 per share, cutting down $3 billion off the ride-sharing company's $18 billion valuation. Investors also expect some competition on the public markets very soon from Uber.
First Solar — Shares of First Solar soared more than 8%, on pace for its best day of the year, after Goldman Sachs added the stock to its "Americas Conviction List," while reiterating its buy rating and raising the stock's price target to $75 from $64. Goldman highlighted the strong demand from the utility and commercial end markets.
JD.com — Shares of JD.com fell more than 2% after reports came out Wednesday that the Chinese e-commerce company plans to cut up to eight percent of its workforce, or 12,000 jobs. JD spokesperson declined to comment on the job cuts, saying that the company was getting back to "its entrepreneurial roots," according to the reports.
Advanced Micro Devices - Shares of AMD rose more than 2% after Cowen raised its 12-month price target on the semiconductor to $33 from $28. Cowen analysts said they are "increasingly confident" in Advanced Micro Devices' product launches this year and its "competitive positioning" against rival Intel.
AmerisourceBergen — Shares of AmerisourceBergen fell more than 4% after analysts from Bank of America downgraded the stock to underperform from buy and lowered the 12-month price target to $76 from $95. Analysts at the bank cited uncertainty for the drug wholesale industry and recent challenges to the company's biggest customer, Walgreens, for the downgrade.