Current and former Tesla employees working in the company's open-air "tent" factory say they felt pressure to take shortcuts to hit aggressive Model 3 production goals,...Technologyread more
President Donald Trump and the RNC are picking up key supporters in the business community who did not back him as a candidate in 2016.2020 Electionsread more
Early Facebook investor and Trump supporter Peter Thiel weighed in on the Democrats taking on the president in 2020, saying he was "most scared' by Elizabeth Warren.Politicsread more
Tensions between Japan and South Korea come as the U.S. and its trading partners are embroiled in a global trade war.Technologyread more
The one-to-eight stock split would mean the current number of ordinary shares — which stands at 4 billion — will increase to 32 billion. It comes ahead of a reported Hong Kong...Asia Marketsread more
Treasury Secretary Steven Mnuchin is raising red flags ahead of Facebook's proposed cryptocurrency launch.Marketsread more
China's fiscal spending increased 10.7% in the first six months from a year earlier, the finance ministry said on Tuesday, underlining the government's bid to support the...China Economyread more
Beto O'Rourke's campaign for the 2020 election raised just $3.6 million in the second quarter of this year, putting him in the lower tier of candidates who have struggled to...2020 Electionsread more
Von der Leyen, one of the longest serving ministers in Germany, has tried to woo European lawmakers over the last two weeks.Europe Newsread more
The findings by McKinsey and Company come amid a year-long tariff fight between the U.S. and China, which has spilled into areas such as technology and security.China Economyread more
Microsoft's considerable reach into the corporate world isn't something Slack CEO Stewart Butterfield is very concerned about.Technologyread 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.