The S&P 500 is closing in on its all-time high, and is likely to sail past it, as long as the Fed promises lower interest rates and the trade war calms down.Market Insiderread more
In a tweet, Trump said that he and Xi "had a very good telephone conversation," and that "our respective teams will begin talks prior to our meeting."Politicsread more
A Bloomberg News report Tuesday morning said the White House had looked at such a move in February.Marketsread more
President Donald Trump on Tuesday announced that he will not nominate acting Defense Secretary Patrick Shanahan to hold the position in a permanent capacity. Army Secretary...Politicsread more
Stocks surged after President Donald Trump said he will be meeting with his Chinese counterpart, Xi Jinping, at the upcoming G-20 summit.US Marketsread more
The move is part of a larger trend that saw the survey's 179 participants move away from risk and toward positions that reflect fear of a coming economic slowdown spurred by a...Marketsread more
Democratic frontrunner Joe Biden on Monday appealed to a billionaire Republican donor for fundraising help in his presidential campaign. But the financier, Trump-supporting...Politicsread more
Facebook and other groups are behind a new programming language for working with the Libra blockchain.Technologyread more
Tesla investors are regaining confidence in a quieter Elon Musk — even as they question the company's ability to hit its production goals for the second quarter.Autosread more
Long-time blockchain technologists say Facebook's Libra digital currency will introduce billions to cryptocurrencies, but the company's problems with trust and privacy remain...Technologyread more
Valisure, an online pharmacy company, told the FDA that high levels of dimethylformamide were found in valsartan, a drug produced by Swiss drugmaker Novartis and other...Health and Scienceread more
Check out the companies making headlines midday Wednesday:
Salesforce — Shares of cloud software company Salesforce rose 5.1% on first-quarter that beat analysts' expectations. Revenue came in at $3.74 billion, topping a Refinitiv estimate of $3.68 billion. Earnings per share totaled 93 cents, higher than the forecast 61 cents per share.
Campbell Soup —Campbell Soup shares soared 10% after raising its full year earnings forecast. For the full year, Campbell expects adjusted profit of between $2.50 and $2.55 per share, compared with the previous forecast of between $2.45 and $2.53. The food company also reported strong quarterly earnings of 56 cents per share on revenue of $2.388 billion. Wall Street expected earnings per share of 47 cents on revenue of $2.365 billion, according to Refinitiv.
Vera Bradley — Shares of the purse maker rose 1.8% after the company reported quarterly revenue that topped estimates. The company's sales totaled $91 million in the first quarter, topping a FactSet estimate of $87.9 million. Vera Bradley also posted same-store sales that beat analyst expectations.
Cronos Group — The Canadian pot company's stock was upgraded to buy from underperform by Bank of America, sending its shares up 10.9%. The analyst cited "improved confidence" in Cronos based on its prospects for expansion in the U.S.
GameStop — The video game retailer's shares plunged more than 30% after the company reported disappointing quarterly numbers and announced the elimination of its quarterly dividend. GameStop also said it expects 2019 sales to drop between 5% and 10%.
American Eagle Outfitters — Shares of American Eagle jumped climbed 3.8% after posting better-than-expected first-quarter results. The retailer reported earnings per share of 24 cents, beating a Refinitiv estimate by 3 cents. Revenue was $886.3 million, topping the forecast $855.6 million. Same-store sales crushed expectations, growing 6%, while analysts estimated an increase of 3.1%.
Uber Technologies — Uber shares rose 5.3% after Raymond James initiated the stock with an outperform rating. Raymond James predicted Uber's revenue will grow more than 25% over the next five years.
Roku — Shares of Roku jumped 8.7% after an analyst at Guggenheim upgraded the stock to buy from neutral and raised its 12-month price target to $119 per share from $75. Guggenheim cited strong growth in video advertising and other metrics for the upgrade.
Norwegian Cruise Line — Norwegian Cruise Line shares were downgraded to neutral from buy at Buckingham, sending them down 3.5% on the day. The firm said the cruise company faces earnings growth risks amid travel restrictions to Cuba. Buckingham also slashed its price target on the stock to $56 per share from $77.