The FAA administrator's comments come on the eve of his visit to Boeing facilities outside Seattle, Washington. While there, he's scheduled to meet with Boeing executives and...Airlinesread more
Investors largely expected the FOMC to cut rates by a quarter point.The Fedread more
As the Fed was meeting to consider cutting interest rates, it lost control of the very benchmark rate that it manages.Market Insiderread more
President Barack Obama spoke at an event in San Francisco on Wednesday hosted by software company Splunk and addressed how tech can help solve problems.Technologyread more
Disney CEO Bob Iger writes in his autobiography that he believes he would have discussed combining Disney with Apple had Steve Jobs lived.Technologyread more
The Facebook CEO will talk to policymakers "about future internet regulation," according to a spokesperson.Technologyread more
The decision to cut rates followed a monthslong pressure campaign by Trump, who often criticized Chairman Jerome Powell by name as he called for lower interest rates.Politicsread more
Federal Reserve Chairman Jerome Powell said the he does not see the Fed using negative interest rates in the future.The Fedread more
On Instagram and other social media sites, health misinformation is rampant. Companies have only recently begun to take steps to clamp down on this kind of content.Technologyread more
Steve Dowling, the head of Apple's public relations department, announced he will be leaving this week.Technologyread more
Tracy Britt Cool is leaving the firm after a decade to start a company that replicates Warren Buffett's business model, the Wall Street Journal reported.Marketsread more
Check out the companies making headlines midday Friday:
Foot Locker — Shares of Foot Locker were down 16% after the shoe retailer reported adjusted quarterly earnings per share that were 7 cents below expectations. Sales also came in below forecasts, and an increase in same-store sales of 4.6% missed estimates of analysts polled by Refinitiv.
Autodesk — Autodesk dropped more than 4% after missing on the top and bottom lines of its first-quarter results. Autodesk posted earnings per share of 45 cents on revenue of $736 million. Analysts expected earnings per share of 47 cents on revenue of $740 million, per Refinitiv. Autodesk gave second-quarter revenue and earnings per share guidance in line with estimates.
Hewlett Packard Enterprise — Shares of HP Enterprise rose 0.5% after reporting better-than-expected second-quarter earnings. The information technology company posted earnings per share of 42 cents. Wall Street expected earnings per share of 37 cents, according to Refinitiv.
Ross Stores — Ross Stores fell 1.8% on a disappointing quarterly outlook. For the second quarter, the retailer estimates earnings per share between $1.06 and $1.11, compared to Refinitiv's estimate of $1.14. The weak guidance overshadowed strong first-quarter earnings. Ross earned $1.13 per share on revenue of $3.80 billion. Analysts polled by Refinitiv expected the company to report a profit of $1.12 per share on sales of $3.79 billion.
Intuit — The TurboTax parent's stock rose more than 6% after the company raised its fiscal full-year outlook. Intuit said it expects fiscal 2019 earnings to range between $6.67 per share and $6.69 per share. That's above a Refinitiv forecast of $6.55.
Splunk — Shares of the software company dropped more than 7% as analysts raised concerns over the company's free-cash-flow outlook. The company lowered its free-cash-flow estimate for fiscal 2020 to $250 million from $350 million. That negated stronger-than-forecast quarterly results.
Amazon — Amazon shares climbed 0.4% after an analyst at Piper Jaffray said the e-commerce giant's stock could reach $3,000 in two years. The analyst wrote in a note that "we have a high degree of confidence that AMZN shares can reach this level with no major acquisitions or other significant changes to the business."
—CNBC's Maggie Fitzgerald and Tom Franck contributed to this report.