The Business Roundtable, led by Jamie Dimon, gives a new definition of the "purpose of a corporation."Marketsread more
Stocks rose sharply on Monday as Treasury yields rebounded, quelling fears of a possible recession.US Marketsread more
Powell will have the opportunity if not to walk back the "midcycle" assessment then to at least provide some further explanation about what it means.Economyread more
Saudi Aramco sent a request for proposal to several banks, people familiar with the matter told CNBC Monday.Marketsread more
Twitter and Facebook have suspended numerous accounts that are believed to be tied to a state-backed information campaign originating from inside China.Technologyread more
Leaked documents from Google give fresh ammo to conservative lawmakers who have already accused Google and other tech companies of political bias.Technologyread more
J.P. Morgan estimates the average annual tariff cost per household will be $1,000 with the new round of Trump's tariffs.Marketsread more
Stasior left Apple earlier this year. Prior to his time in charge of Siri, he was a top executive at Amazon.Technologyread more
Sequoia's Michael Moritz says that direct listings worked for Spotify and Slack and will become more common for companies with "courage and intelligence."Technologyread more
Shares of embattled utility PG&E plummeted after a judge ruled that a jury can decided whether it should pay up to $18 billion in damages.Marketsread more
The attacks come after state and local ransomware attacks in New York, Louisiana, Maryland and Florida resulted in the loss of significant sums.Technologyread more
Check out the companies making headlines midday Wednesday:
Wendy's- The fast food chain closed up almost 4% after reporting better-than-expected earnings before the bell. Wendy's reported an adjusted quarterly profit of 14 cents per share, beating analysts' estimates by 3 cents. Total revenue rose 7.4% to $408.6 million, topping estimates of $399.8 million.
Lyft- The ride-sharing company's stock closed down more than 10% after it reported a big loss in its first ever earnings report a day earlier. Despite the loss, Wall Street analysts were optimistic, with Credit Suisse calling the results a "good first step." Lyft's revenue was $776 million, compared to analysts' forecast of $739 million.
Diamondback- The energy company closed up more than 7% following the release of strong first-quarter earnings. The oil and gas driller is on pace for its best day since November 2016. The company also announced a $2 billion share repurchase program.
Match Group- Tinder parent company's stock closed up 12% after beating on revenue and profit in its first-quarter report a day earlier. Match reported earnings per share of 42 cents on revenue of $465 million. Analysts forecast earnings per share of 32 cents on revenue of $464 million per Refinitiv.
Qorvo- The maker of radio frequency components closed up 3% after reporting adjusted quarterly profit of $1.22 per share, beating the Refinitiv estimate of $1.05 a share. Qorvo also posted revenue that beat estimates and gave a positive current-quarter outlook.
Lending Club- Shares of Lending Club closed up 12% after Wedbush upgraded the lending company's stock to "outperform" from "neutral." Wedbush also increased its price target for the stock to $5 from $3.75, after the company reported strong first-quarter earnings Tuesday after the bell.
Mosaic- Shares of Mosaic closed up almost 3% after J.P. Morgan upgraded the fertilizer producer's stock to "overweight" from "neutral." The upgrade comes a day after the company posted better-than-expected earnings and revenue for the first-quarter of the year, despite increased costs due to poor weather.
TripAdvisor- The travel website's stock closed down 11% after missing on revenue in its first-quarter results on Tuesday. TripAdvisor reported revenue of $376 million, compared to Wall Street estimates of $387 million, according to Refinitiv.
U.S. Steel- The steelmaker closed down more than 5% after UBS downgraded the stock to "sell" from "neutral." UBS said it estimates near-term capital investment will not reverse market share losses in the coming years for the company.