Huawei CEO Ren Zhengfei laid out plans to bring more efficiencies to the organization. This included simplifying the reporting structure, cutting down on surplus staff, axing...Technologyread more
The bond market has entered a financial twilight zone, and at this point, there doesn't seem to be a smooth way out.Market Insiderread more
China has used both monetary and fiscal measures to lift economic activity as its trade war with the U.S. looks set to intensify in the coming months.China Economyread more
President Donald Trump said on Twitter he was postponing a scheduled meeting with Denmark's prime minister because of her lack of interest in discussing a possible sale of...World Politicsread more
"I think (rate cuts) will help, but whether they're going to be sufficient to counter the negative trade pressures and global growth slowdown and impact is debatable," one...Central Banksread more
Chinese overseas investment growth will likely slow or even decline in the next few years as risks around the world increase, according to new research by Moody's Investors...China Economyread more
The two countries want to smash the civil aerospace duopoly enjoyed by Airbus and Boeing.Aerospace & Defenseread more
Alibaba held a board meeting before its latest quarterly earnings release last week, during which the board decided to postpone the Hong Kong listing, Reuters reported.Technologyread more
Federal Reserve Chairman Jerome Powell is set to deliver his annual speech on Friday at the Jackson Hole, Wyoming symposium, where he's expected to provide more clarity on the...Asia Marketsread more
U.S. and Asian investors poured $3.7 billion into U.K. tech start-ups in the first seven months of 2019, research shows.Technologyread more
After Elon Musk touts Tesla solar on Twitter, Walmart sues the electric vehicle and clean energy company over store rooftop panels that ignited.Technologyread 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.