As part of the plan, Amazon has agreed to purchase 100,000 electric delivery vans from vehicle manufacturer Rivian.Technologyread more
At least in terms of monetary policy, Pence says should be taking after other regions who keep their benchmark interest rates near zero.Delivering Alpharead more
The plan will allow Medicare to negotiate lower prices on as many as 250 drugs and apply those discounts to private health plans.Health and Scienceread more
Hedge fund titan Leon Cooperman said he's concerned about a shift to the left in the political landscape, which could harm the economy and the stock market.Delivering Alpharead more
Apple's big iOS 13 update for iPhones is out now and includes lots of new features. Here's how to install it on your phone and what devices are supported.Technologyread more
The pilot program will deliver food and beverage, over-the-counter medications and other items within minutes, the company said. Prescription deliveries will not be available.Health and Scienceread more
Check out the companies making headlines in midday trading:Market Insiderread more
The FDA's Office of Criminal Investigations opened a probe "shortly after" people started falling ill, Mitch Zeller, director of the FDA's Center for Tobacco Products, told...Health and Scienceread more
Investor Jim Chanos is betting against GrubHub, and said the food delivery company makes almost nothing per order.Delivering Alpharead more
Billionaire investor Leon Cooperman on Thursday said he believes that the Federal Reserve is "screwing the savers."Delivering Alpharead more
Datadog priced its stock at $27, selling 24 million shares and raising $648 million in its IPO.Technologyread more
Applied Materials forecast third-quarter profit and revenue above estimates and reported better-than-expected quarterly results on Thursday, allaying investor concerns about slowing semiconductor demand.
Shares of the company rose nearly 6% in extended trading.
The semiconductor industry has been grappling with slowing demand that bellwether Texas Instruments warned was a cyclical downturn which could last for another two years.
Applied's Chief Financial Officer Daniel Durn said the chip market was expected to be flat for the year.
"While we're still not ready to call the bottom of the semi equipment cycle, I believe our industry thesis is very much intact," Durn said in a post-earnings conference call about the broader semiconductor industry.
Overall, however, the company expects to grow in 2019, with strong demand from services and display markets.
Applied Materials forecast third-quarter revenue at about $3.525 billion, the mid-point of which is above analysts' estimate of $3.51 billion. It forecast earnings per share of 67 cents to 75 cents, the mid point of which is above analysts' estimate of 69 cents.
Net sales fell 22.7% to $3.54 billion in the second quarter, but were above estimates of $3.48 billion, according to IBES data from Refinitiv.
The company's adjusted net income fell to $660 million, or 70 cents per share, in the second quarter ended April 28, from $1.24 billion, or $1.19 per share, a year earlier.
Analysts were expecting earnings of 66 cents per share.
Durn told investors the company had plans in place to ensure that the net impact of any tariffs related to the U.S.- China trade tension would be immaterial.
"It's clearly something we're going to watch very closely... But right now, given where we sit and what we know today, we think the net impact is going to be immaterial for the overall results of the company," Durn said.