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
CBS, CNN and other major media companies are starting to pull e-cigarette advertising off their airways, as the death toll from a mysterious vaping-related illness continues...Health and Scienceread 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
For the past six years, Facebook has tried over and over to release a hardware product that consumers will want, and it has never succeeded.Technologyread more
AT&T is considering selling DirecTV, according to a report in the Wall Street Journal.Technologyread more
The Fed cut interest rates by a quarter point, but it also reaffirmed its rate cut was meant to serve as insurance for the economy.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
Microsoft shares rose 1% after hours as it announced plans to raise its dividend and authorized as much as $40 billion to buy back shares.Technologyread more
Check out the companies making headlines midday Wednesday:
Adobe — Adobe climbed 5.2% after reporting better-than-expected quarterly results. The technology company earned an adjusted $1.83 per share on $2.74 billion in revenue for the fiscal second quarter. Wall Street expected an adjusted earnings per share of $1.78 on $2.70 billion in revenue, according to Refinitiv.
Six Flags Entertainment — Shares of Six Flags Entertainment rose 2% after the amusement company was upgraded to outperform from neutral by Wedbush. The analysts cited a potential rise in customer spending from a membership program, approval of new parks in China and good weather comparisons to last year as reasons for the upgrade. Wedbush now has a target price of $62 per share for the company.
Energizer Holdings — The battery maker's stock dropped 6.3% after J.P. Morgan downgraded it to underweight from neutral. "While the battery category is a relatively stable business … worsening shelf space losses for Rayovac will likely continue to be a headwind to results until at least 3QFY20."
Axalta Coating Systems — Shares of the paint and coating manufacturer surged more than 13% after the company announced it is exploring strategic alternatives to "maximize shareholder value," including a potential sale.
TripAdvisor — TripAdvisor shares climbed 1.9% after an analyst at SunTrust upgraded them to buy from hold, citing an estimated 30% annual growth in the company's "Experiences" segment.
La-Z-Boy — La-Z-Boy shares surged more than 8% as traders shrugged off concerns over the impact of U.S. tariffs on Chinese goods on the furniture maker's bottom line. The company said in its latest quarterly report that additional U.S. tariffs on Chinese products would increase the cost of raw materials, which would force it to raise prices.
Rio Tinto — Rio Tinto's U.S.-listed shares slid 3.7% after the company cut its iron ore production guidance. The company said it expects to produce between 320 million and 330 million tons of iron ore. That's below a previous guidance of 333 million and 343 million tons.
Jabil —Jabil rose 10.3% after the electronics maker issued stronger-than-forecast earnings guidance for the fourth quarter. The company expected earnings to range between 76 cents and 96 cents a share. The top end of the range topped a Refinitiv median estimate of 86 cents a share. Jabil also reported a better-than-expected revenue for its fiscal third quarter.
Allergan —Allergan shares rose 6.2% after the pharmaceutical company reported positive trial results for Linzess, a drug aimed a treating irritable bowel syndrome.