Stocks fell sharply on Thursday as U.S.-China trade worries persisted with more companies suspending business with Chinese telecom giant Huawei.Marketsread more
The yield on the 10-year Treasury note fell to its lowest level since 2017 as more traders grew confident in a longer U.S.-China conflict.Bondsread more
A Ministry of Commerce spokesperson does not single out any U.S. action, but it's been a tense couple of weeks for the trade war.World Politicsread more
"For them to say that they don't work with the Chinese government is false," Secretary of State Mike Pompeo tells CNBC.Politicsread more
Facebook has stopped paying commission to staff for selling political advertisements on its platform, The Wall Street Journal reported.Technologyread more
Oil prices dropped on Thursday, extending falls from the previous session amid surging U.S. crude inventories as low refinery runs and ongoing trade tensions weighed on the...Energy Commoditiesread more
U.S. manufacturer growth hit new lows in May, the latest sign that the economic slowdown accelerated amid the ongoing trade war.Economyread more
Wall Street is under pressure, but a handful of stocks are breaking out to new highs. McDonald's, Waste Management, Hershey, Visa and Costco have notched records this month,...Trading Nationread more
No timetable has been set on returning the money to outside investors in Tepper's Appaloosa Management, source says.Hedge Fundsread more
Huawei is winning over more and more Apple fans in China as the escalated trade tensions stoked "nationalist sentiment," according to South China Morning Post.Marketsread more
Celebrity chef Mario Batali is being charged with indecent assault and battery, more than a year after admitting to sexual misconduct.Restaurantsread more
GoPro raised its full-year revenue forecast and reported a smaller-than-expected loss on Thursday, boosted by strong demand for its new line of action cameras from its flagship brand HERO, sending its shares up 13%.
The company's action cameras, which are popular among surfers, sky divers and Instagram travel bloggers, have been facing stiff competition from smartphones with constantly improving camera quality.
Despite the challenges, the company said average selling prices for HERO7 Black camera rose 8%.
The company raised its revenue forecast for 2019 to between 7% and 10%, from its previous forecast of 5% and 8%.
GoPro also said it expects most of its cameras for the U.S. market to be made in Mexico in the second half of 2019.
"Our decision to move most of our U.S.-bound production to Mexico supports our goal to insulate us against possible tariffs as well as recognize some cost savings and efficiencies," Chief Financial Officer Brian McGee said on a post-earnings call with analysts.
The San Mateo, California-based company said its sales through retailers grew 11% in Asian markets, including Japan, China and Korea, and reported an 89% share of the U.S. action camera market by units.
The company incurred a net loss of $24 million, or 17 cents per share, in the first quarter ended March 31.
Excluding one-time items, the loss was 7 cents per share. Analysts had expected a loss of 9 cents, according to IBES data from Refinitiv.
The company has managed to keep losses in check and revive margins through job cuts and by exiting its drone business.
Quarterly revenue jumped 20% to $243 million, beating Wall Street analysts' average estimate of $234.4 million.
GoPro also said it expects second-quarter revenue in the range of $285 million to $305 million. Analysts were expecting $292.8 million.