Richard Yu, CEO of Huawei's consumer business, said Huawei's own operating system for smartphones and laptops could be ready for use in China by fall this year.Technologyread more
Among the many ways Trump has shattered White House norms, his impulsive public communications rank among the most consequential. By inspiring investors or spooking them, his...Politicsread more
A federal judge in New York City on Wednesday said Deutsche Bank and Capital One can turn over financial documents related to President Donald Trump and his businesses in...Politicsread more
CNEX, backed by Microsoft and Dell, filed new allegations in a Texas suit accusing China's Huawei and an executive of trade secrets theft.Technologyread more
With Amazon and Walmart facing regulatory hurdles in India, Reliance's Mukesh Ambani isTechnologyread more
Japan's Panasonic said on Thursday it has stopped shipments of certain components to Huawei Technologies to comply with U.S. restrictions on the Chinese company.Technologyread more
Treasury Secretary Steven Mnuchin told CNBC on Wednesday that a trip to Beijing to resume trade negotiations has not been scheduled yet, reducing hopes of a speedy resolution...Asia Marketsread more
Research analyst Adam Jonas, a long-time Tesla bull, said it's extremely unlikely that big tech firms like Apple or Amazon would buy it.Technologyread more
The disclosures come as a federal judge ruled Wednesday that two other banks — Deutsche Bank and Capital One — can give financial documents to Congress, NBC News reports.Politicsread more
Shares of L Brands, the owner of Victoria's Secret and Bath & Body Works, rose nearly 11% in aftermarket trading Wednesday after the company reported it beat revenue and...Retailread more
Officials remained firmly committed to a "patient" policy stance at their meeting earlier this month.The Fedread more
Check out the companies making headlines before the bell:
3M — 3M earned an adjusted $2.23 for the first quarter, missing the consensus estimate of $2.49 a share. Revenue also fell short of forecasts and 3M cut its full-year forecast. The manufacturing giant also announced it will cut about 2,000 jobs.
Comcast — The NBCUniversal and CNBC parent beat estimates by 8 cents a share, with adjusted quarterly profit of 76 cents per share. Revenue was short of consensus. Comcast's total customer relationships rose by 3.5%, with cable communications revenue up 4.2% and high-speed internet revenue up 10.1%.
Southwest Airlines — Southwest's profit fell 16% from a year ago, due largely to the grounding of its Boeing 737 Max jets. The airline's bottom line came in 9 cents a share above estimates, at an adjusted 70 cents per share. Revenue also topped estimates.
UPS — UPS came in 2 cents a share short of estimates, with adjusted quarterly profit of $1.39 per share. The delivery company's revenue also missed forecasts. UPS said bad weather had a significant impact on its performance during the quarter.
Waste Management — Waste Management reported adjusted quarterly earnings of 94 cents per share, 2 cents a share above estimates. Revenue beat estimates, as well. The company also said that efforts to improve its recycling business are showing positive results.
DR Horton — The home builder earned 93 cents per share for its fiscal second quarter, 7 cents a share above estimates. Revenue also beat forecasts, however the company gave a softer-than-expected full-year forecast, partly due to rising costs.
Facebook — Facebook reported adjusted quarterly profit of $1.89 per share, compared to the $1.63 a share consensus estimate. Revenue also beat forecasts. Facebook's top and bottom lines, as well as user numbers, hit record highs during the quarter. The company also said it expects to pay at least $3 billion and possibly up to $5 billion in a privacy-related fine to the Federal Trade Commission.
Chipotle Mexican Grill — Chipotle reported adjusted quarterly earnings of $3.40 per share, beating consensus forecasts by 39 cents a share. The restaurant chain saw comparable store sales rise by a better than expected 9.9%, and its digital revenue more than doubled while accounting for 15.7% of sales.
Walmart — British regulators have blocked the proposed $9.4 billion takeover of Walmart's Asda supermarket operator by rival Sainsbury, saying it would lessen competition.
Visa — Visa came in 7 cents a share ahead of estimates, with quarterly profit of $1.31 per share. The payment network also reported a slight revenue beat as an increase in consumer spending boosted its results. Visa also raised its full-year forecast. On the negative side, Visa did see a slide in the value of transactions made outside a customer's home country.
PayPal — PayPal reported adjusted quarterly profit of 78 cents per share, 10 cents a share above estimates. Revenue matched Street forecasts. PayPal also reported that more than 40 million people made transactions using its Venmo service over the past 12 months, making it one of the most popular financial apps in the country.
Tesla — Tesla lost an adjusted $2.90 per share for the first quarter, wider than the 69 cents a share loss that Wall Street was expecting. The automaker's revenue was below forecasts as well. Tesla said it expects to return to profit in the third quarter of 2019, on cost cuts and improvements in delivery.
Shutterfly — Shutterfly may be a takeover candidate, with Bloomberg reporting that private-equity firms Apollo Global and Cerberus are considering a bid for the online photo sharing company.
Nokia — Nokia posted a surprise quarterly loss, related to a delay for the Finnish telecom equipment maker in booking 5G-related revenue.