Saturday's attack is the biggest on Saudi oil infrastructure since Saddam Hussein's invasion of Kuwait in 1990.Energyread more
Saudi Aramco is aiming to restore by Monday about a third of its crude output that was disrupted after drone attacks on two key oil facilities, The Wall Street Journal...Marketsread more
"Blaming Iran won't end disaster. Accepting our April '15 proposal to end war & begin talks may," Zarif said on Twitter.Energyread more
Oil prices are expected to jump as much as $10 per barrel after a coordinated drone strike hit Saudi Arabia's largest oil field, forcing the kingdom to cut its oil output in...Marketsread more
Apple's new iPhones can still send texts, download apps, and make video calls, but the company spends a lot of time and effort marketing its new phones as powerful photography...Technologyread more
The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
Some U.S. manufacturers say tariffs, if targeted, will help address longstanding unfair trade practices like intellectual property theft.Traderead more
Supporters of a $15 minimum wage ballot initiative in Florida argue the state's inflation-tied pay hikes have not gone far enough.2020 Electionsread more
Saudi Arabia shut down half its oil production Saturday after drone strikes hit the world's largest oil processing facility in an attack claimed by Yemen's Houthi rebels.Politicsread more
Trusii's hydrogen water machines were supposed to help users with their health problems, but customers claim the company is involved in a giant scam.Technologyread more
The decoupling of the world's two weightiest economies seems as inescapable as its extent and global impact remains incalculable.Politicsread more
Check out the companies making headlines midday Thursday:
Exxon Mobil, Noble Energy, Devon Energy — Energy shares jumped with the price of oil as tensions between Iran and the U.S. intensified after a drone was shot down over Iranian airspace. President Donald Trump reacted to the event by tweeting "Iran made a very big mistake." He later told reporters "you'll soon find out" whether the U.S. will strike Iran. The news sent oil prices surging more than 5%. Exxon Mobil shares were up 1.7%, while Noble Energy and Devon Energy gained 6.2% and 4.3%, respectively.
Oracle — Oracle rose more than 8% after the company's quarterly report beat expectations. The enterprise software company reported earnings of $1.16 per share, excluding certain items, on $11.14 billion in revenue for its fiscal fourth quarter. Consensus estimates were $1.07 in earnings per share and $10.93 billion in revenue, according to Refinitiv.
Commercial Metals — Shares of Commercial Metals jumped 6.6% following a better-than-expected quarterly report. The company reported 66 cents earnings per share, topping a Refinitiv estimate 61 per share. Revenue was in-line with expectations at $1.6 billion for the fiscal third quarter, representing a year-over-year increase of more than 30%.
CommScope Holding — The communication infrastructure company's stock advanced 2.5% after analysts at Goldman Sachs upgraded the stock to buy from neutral. Analysts said the company has potential to expand margins and opportunities to benefit from trends like 5G and datacenter.
Steelcase — Steelcase fell 11.2% after the office furniture maker's quarterly numbers disappointed investors. Steelcase reported earnings per share of 15 cents on revenue of $824.3 million. Analysts polled by Refinitiv expected a profit of 18 cents per share on sales of $839.1 million.
Monotype Imaging — Shares of Monotype Imaging surged 7.7% after Bloomberg News reported the typeface developer is exploring strategic options after receiving interest from private-equity firms for a buyout.
KeyCorp, BB&T — Regional bank stocks fell broadly after the Federal Reserve hinted at the possibility of lowering rates as soon as next month. This sent the benchmark 10-year Treasury yield to its lowest level since November 2016.
Carnival — Stock in cruise operator Carnival fell 7.7% after the company cut its full-year revenue forecasts due to new restrictions on travel to Cuba, among other factors.