Ross played down the prospect of an agreement being reached at the G-20 meeting in Osaka on June 28-29.Paris Airshowread more
Boeing is scrambling to restore confidence in the 737 Max from regulators, customers and the flying public.Paris Airshowread more
Heavy rains caused unprecedented delays in planting this year and contributed to record floods across the central United States.Agricultureread more
Pfizer said on Monday it had agreed to acquire Array Biopharma for $10.64 billion, which will grant it access to its cancer drugs.Biotech and Pharmaceuticalsread more
Huawei CEO and founder Ren Zhengfei said that the Chinese tech company will report revenues of around $100 billion in 2019 and 2020, which would be flat growth versus 2018.Technologyread more
Bitcoin leapt across the $9,000 mark on Sunday, boosted by reports that Facebook is soon set to launch its own cryptocurrency.Cryptocurrencyread more
Although Cook did not mention companies by name, his commencement speech in Silicon Valley's backyard mentioned data breaches, privacy violations, and even made reference to...Technologyread more
In the survey, 66% of Democratic primary voters say they'd be enthusiastic or comfortable about Biden as their nominee to take on President Trump in the 2020 election. Just...Politicsread more
Target's registers were down on Saturday for several hours preventing customers from checking out.Retailread more
Organizers claimed that nearly 2 million Hong Kong protesters took to the streets Sunday in a rally to demand the city's top official resign a day after she suspended — but...China Politicsread more
African swine fever, which has already ravaged pig herds in China and pushed up food prices there, could also drive up inflation in the other emerging markets, according to...Asia Economyread 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.