The EU opened a formal investigation into Amazon on Wednesday centered on how the e-commerce giant uses merchants' data.Technologyread more
Analysts and investors are keen to find out how looming interest rate cuts will impact the second biggest U.S. lender by assets.Financeread more
IAC is set to invest $250 million in Turo, a peer-to-peer car-sharing firm that is often referred to as the "Airbnb for cars."Technologyread more
U.S. officials see the deal as a threat to NATO, for which Turkey provides the second-largest military.World Politicsread more
Google's services have been blocked in China for several years, but the company still has a business there, as the tech giant seeks to sell products to Chinese firms in...Technologyread more
China may have signaled it's going more hard-line on trade, but it could be a good thing, former U.S. negotiator Clete Willems told CNBC.World Economyread more
While the vote served as a show of solidarity for Democrats, it recommended no substantive penalty against Trump.Politicsread more
Barney Frank, former chairman of the House Financial Services Committee, says that significant progress has been made to reduce the amount of imprudent household lending in...Invest in You: Ready. Set. Grow.read more
Facebook's cryptocurrency project has already been met with skepticism from policymakers around the world.Technologyread more
United's Optum is launching a new partnership with John Muir Health aimed at helping the small northern California hospital operator become more competitive with its larger...Health and Scienceread more
A key read on the industry, the Architecture Billings Index, fell into negative territory in June, according to the American Institute for Architects. Inquiries for new...Real Estateread 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.