Representatives from the Chinese side say they think it likely that Chinese President Xi Jinping will attend the G-20 meeting later this month. But in order to reach a trade...China Economyread more
Software engineers straight out of college often make six-figure salaries, not counting equity compensation.Technologyread more
Wall Street, though, is clamoring for a rate cut, with an 85% chance of a move in July and a 61% probability of three reductions by year's end.The Fedread more
A company spokesperson said the outage was the result of a "an internal technology issue" and was not security related.Retailread more
The flattening of the yield curve is exuding a bad omen for the stock market if history is any guide.Marketsread more
Using MIT's living wage calculator, CNBC Make It mapped out the minimum amount a single parent must earn to meet their basic needs without relying on outside help in every...Earnread more
Hong Kong Chief Executive Carrie Lam announced at a press conference on Saturday that a contentious bill to allow extraditions to mainland China has been put on hold.China Politicsread more
Stratolaunch, the world's largest airplane, which flew once, is up for sale, sources familiar told CNBC.Investing in Spaceread more
Transparency is key… or is it? With the first-ever non-transparent, actively managed exchange-traded fund receiving approval from the SEC, "ETF Edge" goes straight to the...ETF Edgeread more
Mired in a crisis over its best-selling 737 Max plane, Boeing could hand the spotlight over to its rival Airbus at the Paris Air Show.Airlinesread more
A new update to the Apple Watch called watchOS 6 will notify you if the environment you're in is too loud and could damage your hearing.Technologyread more
Check out the companies making headlines after the bell:
Shares of L Brands surged nearly 13% in extended trading on Wednesday after the parent company of retailers Victoria's Secret and Bath & Body Works reported first-quarter results that surpassed expectations. The company reported earnings of 14 cents per share on revenue of $2.63 billion. Wall Street had expected the company to break even, and to report revenue of $2.56 billion, according to Refinitiv consensus estimates. L Brands raised the lower end of its guidance for the current fiscal year.
L Brands reported flat comparable sales, while analysts had expected sales to fall 1.3%. Comparable sales of Bath & Body Works, alone, jumped 13%, compared with the expected 5.2% increase.
Brazil-based cosmetics firm Natura announced it will buy Avon Products in an all-stock deal, and shares of Avon soared 16% after hours. The deal values cosmetics company Avon at approximately $1.6 billion. The stock had already gained 9% during the regular trading session.
NetApp stock plunged more than 6% after the data services and management company reported earnings for its fiscal fourth quarter that missed estimates on the top and bottom lines, as well as weak first-quarter guidance. NetApp reported earnings of $1.22 per share and revenue of $1.59 billion, while analysts had expected earnings of $1.26 per share and revenue of $1.64 billion, according to Refinitiv consensus estimates.
The company expects earnings per share between 75 cents and 86 cents for its fiscal first quarter, lower than the Street estimate of $1.04 per share.