Tesla is working on new battery cell designs, and a way to make their own cells, with R&D teams in a lab near its car plant in Fremont, California.Technologyread more
The Federal Reserve and the market are miles apart on interest rate expectations, and the disparity could cost the stock market a 7%-10% drop, economists say.Economyread more
President Trump lambastes Twitter, Google and other technology giants for what he claims as their efforts to stifle him.US Economyread more
Underneath the impressive market rally is a trend that doesn't seem quite right, according to J.P. Morgan.Marketsread more
Mnuchin tells CNBC he's confident President Trump and China's Xi Jinping can make progress in stalled trade talks.World Economyread more
JP Morgan's Jamie Dimon says student lending "is a disgrace and it's hurting America."Economyread more
These are the stocks posting the largest moves midday.Market Insiderread more
The Supreme Court refused to overturn a precedent that strengthened the power of government regulators in a closely watched case that could have had broad ramifications for...Politicsread more
Shares of Paychex dropped on Wednesday after Bank of America downgraded the stock due to its "excessive valuation" and "underwhelming fundamentals."Marketsread more
A full-time worker earning the federal minimum wage of $7.25 per hour cannot rent an affordable two-bedroom apartment anywhere in the country, where affordable is defined as...Spendread more
The president raised $6 million alone at a fundraiser he attended at the Trump International Hotel on Tuesday in Washington.Politicsread more
Check out the companies making headlines midday Thursday:
Citigroup, J.P. Morgan Chase, Bank of America — Bank shares rose as Treasury yields got a boost from better-than-expected economic data. Housing starts rose more than forecast while weekly jobless claims fell more than expected. The data sent the benchmark 10-year Treasury yield up to 2.41%. Citigroup, J.P. Morgan and Bank of America all rose more than 1%.
Cisco Systems — Cisco surged 6.7% following the release of its better-than-expected third-quarter earnings and upbeat revenue guidance. Cisco reported earnings per share of 78 cents, slightly higher than the estimated Refinitiv estimate of 77 cents. Revenue came in at $12.96 billion, topping expectations of $12.89 billion. For the fourth quarter, the technology company estimates revenue will increase between 4.5% and 6.5%. Analysts estimated an increase of 3.5%.
Walmart — Walmart climbed 1.4% after reporting earnings that beat analyst expectations. The world's biggest retailer posted earnings per share of $1.13 on revenue of $123.93 billion. Analysts expected a profit of $1.02 per share, according to Refinitiv. Same-store sales grew 3.4%, topping the expected increase of 3.3%.
Farfetch — Shares of luxury online retailer Farfetch tanked as much as 16% and closed down 10.6% after the company reported disappointing quarterly results. Farfetch posted a loss of 22 cents a share on revenue of $174.1 million. Wall Street estimated a loss of 16 cents on revenue of $171.1 million, according to Refinitiv.
KB Home — Shares of KB Home rose 2.2% after RBC Capital Markets upgraded its stock to outperform from sector perform and raised its price target for the stock. RBC cited improvements in the home builder's pricing dynamics for the upgrade.
Liberty Media Formula One — The parent company of Formula One racing rose 2% after an analyst at B. Riley FBR upgraded it to buy from neutral. The analyst cited a potential "further inflection as it begins to harvest the benefits of two-plus years of foundation building and fostering better alignment with the 10 F1 teams."
Pfizer— Pfizer stock rose more than 2% after Credit Suisse named it as a "top pick," citing an increase in confidence with management and in the pharmaceutical company's new products over the next few months.
Dillard's — Shares of Dillard's plummeted more than 10% after the company reported flat comparable sales, while analysts had expected a 1.3% increase. The weak same-store sales overshadowed quarterly revenues that matched expectations and a profit that beat estimates.