The fallout from the U.S. crackdown on Huawei intensified this week, as trade negotiations between Washington and Beijing reportedly hit a roadblock.Asia Marketsread more
The issue of corporate debt has surfaced as companies continue to use the low rates the Fed has provided to lever up their balance sheets.The Fedread more
Google has decided to stop licensing its Android operating system to Huawei, in order to comply with a U.S. trade blacklist.Technologyread more
Most U.S. hedge funds aren't expecting another big stock market sell-off as more firms curb bets on volatility, according to Nomura.Marketsread more
Mall owners are increasingly building out food halls with local chef-driven eateries, sushi bars and premium coffee shops.Retailread more
While Trump's lawyers had argued that the committee's subpoena did not have a legitimate legislative purpose — and was therefore invalid — Mehta took a broader view.Politicsread more
See which stocks are posting big moves after the bell on Monday, May 20.Market Insiderread more
Silicon Valley argues that Wall Street focuses too much on near-term profits — but investors have embraced money-losing biotech IPOs.Marketsread more
Iran has quadrupled its output of nuclear material amid rising tension with the U.S. and dangerous escalations in the Middle East.Energyread more
The announcement comes amid a wave of store closures across the country this year.Retailread more
"Unlike Bernie Sanders or Elizabeth Warren or Kamala Harris, Biden's against 'Medicare for All,'" the "Mad Money" host says.Mad Money with Jim Cramerread more
Check out the companies making headlines midday Wednesday:
Qualcomm — Qualcomm surged 12.3%, adding to Tuesday's gains after news broke that the chipmaker reached a settlement with Apple over their royalty dispute, dropping all legal action between the two companies worldwide. The settlement included a payment from Apple to Qualcomm as well as a chipset supply agreement. The news sent Qualcomm stocks soaring 23% on Tuesday. This pushed analysts at Stifel, J.P. Morgan and Evercore ISI to upgrade Qualcomm.
Morgan Stanley — Morgan Stanley rose 2.6% after the bank reported better-than-expected first-quarter earnings, driven by its wealth management and fixed-income trading businesses. The company reported earnings of $1.33 per share, 16 cents above a Refinitiv estimate.
CSX — Shares of the rail transportation company rose 4% after the company reported strong first-quarter earnings. CSX earned $1.02 per share, topping a 91 cent estimate from Refinitiv. CSX's revenue also beat expectations.
Netflix —Netflix fell as much as 1.9% on Wednesday afternoon after the streaming service posted first-quarter revenue that beat analysts' estimates, but also warned that it expected light second-quarter guidance. The stock closed down 1.3% on the day.
Bank of New York Mellon — The bank's stock tumbled more than 9% on quarterly numbers that disappointed investors. Bank of New York Mellon reported a profit of 94 cents per share, 2 cents below a Refinitiv estimate. The company's revenue also missed expectations. Net interest margin, a key metric watched by investors, came in at 1.2%. Analysts polled by FactSet expected a print of 1.26%.
Abbott Laboratories — Shares of Abbott Laboratories were down 4.6% on Wednesday afternoon despite posting first-quarter earnings that beat analysts' expectations. The pharmaceutical posted adjusted earnings of 63 cents per share on revenue of $7.54 billion, surpassing analyst expectations of 61 cents per share on revenue of $7.47 billion.
PepsiCo — Shares of the beverage and snack company rose 3.8% after it beat Wall Street's estimates in its first-quarter financial report. Pepsi reported earnings per share of 97 cents, while analysts polled by Refinitiv expected a profit of 92 cents.
IBM — IBM fell 4.2% after the company's first-quarter revenue came in short of analyst expectations. IBM reported revenue of $18.18 billion, $280 million lower below a Refinitiv estimate. IBM's revenue was also down nearly 5% year over year.
Interactive Brokers — Interactive Brokers Group rose as much as 2.1% on the back of stronger-than-expected quarterly results. The company posted a profit of 64 cents per share, well above a Refinitiv estimate of 53 cents per share. The stock later closed down 2.1%, however.