The U.S. had plans to hike duties on at least $250 billion in Chinese goods to 30% from 25% on Tuesday. Despite the partial trade deal, some banks on Sunday wrote that tariff...Marketsread more
The industry has pulled in $322 billion over the past six months, the fastest pace since the second half of 2008.Marketsread more
The potential deal would shift Neumann's already diminished voting power to the Japanese conglomerate, according to the Journal.Technologyread more
Hunter's vows to forgo any foreign work follow a slew of unsubstantiated attacks by President Donald Trump accusing him of corruption.Politicsread more
Fisher was initially defiant amid the backlash in an interview with Bloomberg, in which he said he had "given a lot of talks, a lot of times, in a lot of places and said stuff...Personal Financeread more
Airlines continue to delay when they plan to have the planes back again with no sign from regulators on when the planes will be approved again.Airlinesread more
Turkey's invasion of northeastern Syria began Wednesday after Trump ordered U.S. troops to pull back from the area.Politicsread more
While Warren's ad about Facebook isn't true, the company's own policy allows politicians to make such false claims in paid advertising.Politicsread more
Typhoon Hagibis made landfall south of Tokyo on Saturday evening. By Sunday around 376,000 homes were left without electricity, and 14,000 without running water across Japan....Weather & Natural Disastersread more
SpaceX and Boeing are each in the final stages of developing the spacecraft needed for the U.S. to once again fly astronauts.Investing in Spaceread more
Bryn Mawr's Jeffrey Mills believes the market needs more time to break out of its slump.Trading Nationread more
Check out the companies making headlines midday Wednesday:
Micron Technology — Micron jumped 13.3% after the chipmaker beat expectations in its fiscal third-quarter report. The company reported adjusted earnings of $1.05 per share on revenue of $4.79 billion. Analysts polled by Refinitiv expected a profit of 79 cents per share and revenue of $4.69 billion. Micron CEO Sanjay Mehrotra also told analysts that the company had resumed shipments to Chinese technology company Huawei.
FedEx — FedEx shares rose 2.5% after the company reported adjusted quarterly profit of $5.01 per share, beating a Refinitiv estimate of $4.85. Its revenue also outpaced expectations. Gains were kept in check, however, as the company warned the U.S.-China trade dispute and the end of its Amazon.com contract would hurt its numbers moving forward.
Care.com — Shares of Care.com, a service that helps connect people with care services like babysitters and elder care, fell 20.5% after the company announced Tuesday its chief financial officer, Michael Echenberg, would resign from the company. Echenberg will leave the company Aug. 30.
Fox — Fox shares rose 0.4% after Goldman Sachs initiated the television broadcaster as a conviction buy, citing expectations that it will increase its affiliate fee contracts and an early advantage in the U.S. sports betting market.
Slack — Shares of messaging app Slack rose 5.6% after Baird initiated coverage of the stock with an outperform rating, citing its early market penetration.
BlackBerry — BlackBerry shares tumbled more than 8% after the tech company reported a weaker-than-expected revenue for its biggest business. The company said its Internet of Things revenue in the previous quarter totaled $137 million. Analysts polled by Refinitiv expected the segment to haul in $151.4 million in sales.
General Mills — The Cheerios maker reported a quarterly revenue that disappointed investors, sending its stock down more than 4%. General Mills said fiscal fourth-quarter sales totaled $4.16 billion, missing a Refinitiv estimate of $4.24 billion.
AbbVie — AbbVie shares climbed 3.5% after an analyst at Leerink upgraded them to outperform from market perform. The analyst expects AbbVie to "extract more synergies from Allergan" than have been suggested.
Paychex — Shares of the payroll services company dropped 3.6% after an analyst at Bank of America downgraded them to underperform from neutral, citing an "excessive valuation" and lackluster fundamentals.