In its latest attempt to build market credibility, China on Monday launched the Science and Technology Innovation Board, or "STAR Market," on which 25 companies were listed.China Economyread more
Stocks in Asia traded lower on Monday morning, as a Nasdaq-style technology board on the Shanghai Stock Exchange marked its debut.Asia Marketsread more
These box office numbers do not include the cost of production or marketing costs. They also don't count the billions in merchandising that Disney has made over the last...Entertainmentread more
When Cathy Hsu and Tony Hsieh wanted to build an English language app for Chinese children, they decided to follow Facebook and Google's lead.Start-upsread more
Tariffs are the only instrument left for addressing China's systematic and excessive surpluses on its U.S. trades, writes Michael Ivanovitch.US Economyread more
Instagram began tests that hide "like" counts on posts. That means influencers who market products on Instagram will have to rely on different metrics to show success.Technologyread more
Peter Neupert worked for Microsoft and Amazon-backed Drugstore.com, where he got to know Jeff Bezos. He now advises start-ups.Technologyread more
The firing of the tear gas was the latest confrontation between police and protesters who have taken to the streets for over a month to fight a proposed extradition bill and...China Politicsread more
Last week shows that oil prices are not the indicator for Middle East tensions they once were, and worries about global demand and growing U.S. production has changed that...Market Insiderread more
Facebook Vice President David Marcus is the face of the company's Libra digital currency, but the original driving force was a 26-year-old female corporate-development...Technologyread more
Amazon's new policy for account suspensions doesn't go far enough to protect sellers from potentially unfair and wrongful suspensions, merchants say.Technologyread more
Check out the companies making headlines midday Thursday:
CBS, Viacom — CBS and Viacom rose after CNBC's David Faber reported the CBS board is preparing to hold deal talks with Viacom. CBS climbed 3.2% on the news while Viacom — which owns channels like MTV and Comedy Central — advanced 3.5%.
Dollar Tree — Dollar Tree rose more than 3% on the back of better-than-expected first-quarter numbers. Same-store sales — a key metric for retailers — rose 2.2%, topping a Refinitiv estimate of 2.1%. Revenue was $5.809 billion, higher than the $5.784 billion Refinitiv forecast. Earnings per share came in in line with estimates at $1.14.
Dollar General — Shares of discount retailer Dollar General rose more than 7% and reached a 52-week high after the company posted strong first-quarter results. Dollar General reported revenue of $6.623 billion, topping a Refinitiv estimate of $6.565 billion. The company earned $1.48 per share, beating a forecast of $1.39. Dollar General's same-store sales increased 3.8%, while Wall Street expected an increase of 2.9%.
Movado — Shares of watch-maker Movado tanked 7.2% after missing on the top and bottom lines of its first-quarter results. Movado reported earnings per share of 24 cents on revenue of $146.5 million. Wall Street estimated earnings per share of 31 cents on revenue of $148.7 million, according to Refinitiv.
Semtech — Shares of the chipmaker fell 7.1% after several analysts cut their price target on the stock following the company's earnings results. Semtech reported quarterly earnings and revenue that beat analyst expectations, but the company noted the U.S. ban on Huawei weighed on the results. Analysts at Oppenheimer, Stifel, Piper Jaffray, Wells Fargo and B. Riley FBR all lowered their price targets on Semtech.
Veeva Systems — The cloud-computing company's stock jumped 14.7% after reporting better-than-expected quarterly results and raising its full-year earnings guidance. Veeva Systems posted earnings per share of 47 cents on revenue of $244.8 million. Analysts polled by Refinitiv expected a profit of 44 cents a share on sales of $238.7 million. The company also said it expects full-year earnings to range between $2.01 per share and $2.03.
Gannett — The parent company of USA Today jumped as much as 9.3% and closed 1.6% higher after The Wall Street Journal reported the company was in merger talks with Gatehouse Media.
Keysight Technologies — Software company Keysight Technologies jumped 11.3% after reporting fiscal second-quarter earnings that easily beat expectations. The company posted earnings per share of $1.22. Analysts polled by Refinitiv expected a profit of 98 cents a share.
Palo Alto Networks — Palo Alto Networks shares slid 6% after the cybersecurity company issued guidance for the current quarter that missed expectations. The company said it expects fiscal fourth-quarter earnings to range between $1.41 per share and $1.42. Analysts polled by Refinitiv expected a forecast of $1.54 earnings per share.
PVH — The parent company of Calvin Klein and Tommy Hilfiger plunged more than 13% after cutting its full-year earnings guidance. The company cited slow growth in retail as well as pressure from the U.S.-China trade war. Weak spending in overseas markets was also a contributing factor in PVH slashing its outlook.
Citigroup — Citigroup shares rose as much as 2.4% after an analyst at Goldman Sachs upgraded the stock to buy from neutral. The analyst said Citi has an "upside potential" of 21%. The stock later lost its gains, closing down 0.2%.