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
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
The first debates will give most of the contenders their biggest platform yet to present themselves to the American people.Politicsread more
Check out the companies making headlines midday Thursday:
L Brands — L Brands surged 12.8% after the parent company of Victoria's Secret and Bath & Body Works reported first-quarter earnings that surpassed expectations. The company reported earnings of 14 cents per share, while analysts polled by Refinitiv expected a break-even quarter.
Target — Target shares rose 2.4% after being upgraded by J.P. Morgan following its strong earnings Wednesday. J.P. Morgan upgraded its rating on the stock to overweight from neutral and hiked its target price to $100 from $81. The bank said Target's strong fiscal first-quarter earnings, especially its 4.2% growth in same-store sales, prove that the big-box retailer is safe from the threat of e-commerce giant Amazon.
Best Buy — Shares of Best Buy fell 4.8% despite the retailer's second-quarter earnings beat after the company warned that new tariffs would increase prices for shoppers. The company reported earnings per share of $1.02, topping Wall Street estimates of 86 cents, according to Refinitiv. Best Buy also reaffirmed its full-year forecast.
Tesla — Tesla shares fell as much as 3.4% but later recovered after Loup Ventures co-founder Gene Munster said the electric car maker will probably miss auto delivery expectations this year. Munster lowered his 2019 vehicle delivery estimate by about 10%.
Toro — Shares of lawn mower maker Toro fell more than 5% after it reported disappointing quarterly results. Toro posted earnings per share of $1.17, missing a Refinitiv estimate of $1.19 per share. Revenue came in at $962 million, lower than the $987.8 million forecast. But Toro said for the full-year it estimates earnings per share between $2.90 and $3.00, topping an estimate of $2.83.
Copart — The auto auction company's stock jumped nearly 8% on quarterly earnings that topped analyst expectations. Copart reported fiscal third-quarter earnings of 81 cents a share. Analysts polled by Refinitiv had forecast a profit of 62 cents a share. The company's service and vehicle revenues also beat analyst estimates.
Pros Holdings — Shares of the AI platform company climbed 1.6% after an analyst at Stifel upgraded the stock to buy from hold. The analyst also hiked Pros' price target to $60 per share from $46, citing accelerating revenue growth and an attractive valuation.
Sociedad Quimica y Minera de Chile — The world's largest lithium producer fell 5.8% on weaker-than-forecast first-quarter results. Sociedad Quimica reported earnings per share of 31 cents on revenue of $504.2 million. Analysts polled by FactSet expected a profit of 38 cents a share on revenue of $521.3 million.
Medtronic — Shares of Medtronic jumped 3.2% after the medical device company reported better-than-expected fiscal fourth-quarter results. Medtronic reported earnings of $1.54 per share on revenue of $8.15 billion. Analysts polled by Refinitiv expected a profit of $1.46 per share on sales of $8.11 billion. The company also gave strong full-year guidance.
Chipotle Mexican Grill — Chipotle Mexican Grill dropped more than 5% after an analyst at BMO Capital Markets downgraded the stock to underperform from market perform. The analyst said Chipotle would be affected by the African swine fever due to its large exposure to pork. The African Swine Fever "will create a meaningful, multi-year upswing in protein prices," the analyst wrote in a note.
Apple — Apple shares fell 1.7% after UBS lowered its price target on the tech giant to $225 per share from $235. UBS said that Apple faces pressure from the ongoing U.S.-China trade war and slowing smartphone demand.