Arturo Estrella has a message for recession naysayers: It could hit sooner than you think.Marketsread more
Local governments commonly share single service providers, making many vulnerable at once. On top of this, ransomware has often been used to mask more targeted, malicious...Technologyread more
Salesforce released its first earnings report since its $15.3 billion acquisition of Tableau Software, the company's largest deal ever.Technologyread more
Fed Chairman Jerome Powell faces the tough challenge of presenting a unified voice on Fed policy from the most divided Fed in years.Market Insiderread more
Kudlow also said that he still expected Chinese negotiators to meet with Trump administration officials in Washington in September to continue trade talks.Politicsread more
VMware is following through on its proposal to buy Pivotal, a fellow Dell subsidiary, and expanding into cybersecurity with the acquisition of Carbon Black.Technologyread more
Google says it shut down hundreds of YouTube channels tied to misinformation around the Hong Kong protests.Technologyread more
It is a rare scenario where long-term interest rates suddenly fall below short-term interest rates.Real Estateread more
Investors are rushing to get a piece of its privately held rival Impossible Foods before it goes public, according to the Wall Street Journal.Food & Beverageread more
Weisler has been CEO at the company since 2015 when it split from HPE.Technologyread more
Apple CEO Tim Cook has found the "recipe" for a positive relationship with the president, management expert Jeffrey Sonnenfeld told CNBC on Thursday.Politicsread more
Check out the companies making headlines midday Tuesday:
Alphabet — Shares of Alphabet tanked 7.5%, posting its worst day since Dec. 1, 2008, after the Google parent posted weaker-than-expected quarterly results. The company posted revenue of $36.34 billion in the first quarter, versus $37.33 billion expected per Refinitiv. The revenue was dragged down by the decelerating ad sales growth at Google.
McDonald's — Shares of McDonald's climbed 0.23% after the burger chain posted first-quarter earnings and revenue that topped analysts' expectations. Global same-store sales grew 5.4% in the first quarter, more than the 3.4% increase analysts expected, according to Refinitiv.
General Electric — Shares of General Electric rose more than 4% after the company reported better-than-expected first-quarter earnings. The conglomerate posted earnings of 13 cents a shares, above Wall Street consensus of 9 cents a share, according to Refinitiv. Revenue also came above expectations.
Texas Roadhouse — Shares of the restaurant chain plunged more than 11% after the company reported worse-than-expected first-quarter earnings. The company posted earnings of 0.7 per share, below FaceSet consensus of 0.81 per share. Revenue also came in below estimates.
Chevron — Chevron's stock rose about 2% after Berkshire Hathaway committed $10 billion to Occidental Petroleum shares to complete its acquisition of Anadarko Petroleum. The market saw that endorsement from Warren Buffett as giving an edge to Occidental's bid over a rival offer from Chevron. Shares of Anadarko dipped 0.3% while Occidental's stock fell 2%. Chevron rose because of perceived cost savings from not having to complete the deal for Andadarko.
Pfizer — The pharmaceutical company reported better-than-expected quarterly results, sending its stock up 2.6%. Pfizer posted earnings per share of 85 cents on revenue of $13.118 billion. Analysts polled by Refinitv expected a profit of 75 cents per share on sales of $12.991 billion.
MGM Resorts International — MGM Resorts shares sunk 7% after the hospitality company's first-quarter numbers missed analyst expectations. Earnings per share clocked in at 5 cents, whereas analysts were expecting 21 cents. The company's revenue beat expectations, however, earning $3.18 billion, as compared to $3.13 billion expected by Refinitiv.
Yum China — Shares of Yum China rose 6.2% after the restaurant company released better-than-expected first-quarter earnings. The parent company of Pizza Hut and Kentucky Fried Chicken reported earnings of 59 cents per share, 5 cents higher than expected, and revenues of $2.3 billion, $40 million higher than expected. The company reported same-store sales increased 4%, versus estimates of a 1.8% increase.
MasterCard — Shares of MasterCard rose 2.9% after the company reported better-than-expected first-quarter earnings. The company reported earnings of $1.78, 12 cents higher than expected, and revenues of $3.889 billion, $33 million higher than expected, according to Refinitiv. Mastercard also reported a 26.7% increase in quarterly profits, citing a strong U.S. job market and an rise in online shopping, which boosted transaction volumes.