It is a rare scenario where long-term interest rates suddenly fall below short-term interest rates.Real Estateread more
It was the third trigger of the recession indicator in less than two weeks.Bondsread more
Overstock CEO Partick Byrne has resigned from the e-commerce company after making comments about his role in the "deep state."Technologyread more
Automakers are trying to deal with President Trump's efforts to roll back Obama-era fuel efficiency rules.Autosread more
Mark Zuckerberg has been on a selling spree in August and has unloaded $526 million worth of stock this year.Technologyread more
Palantir CEO Alex Karp said billionaire investor Peter Thiel is right to question Google's decision to work in China, while abandoning military contracts in the US.Technologyread more
These are the stocks posting the largest moves midday.Market Insiderread more
U.S. manufacturer growth slowed to the lowest level in almost 10 years in August, the latest sign that the trade war may be exacerbating the economic slowdown.Marketsread more
L Brands shares fell by as much as 12% at one point, touching $17.61 — a price not seen since December 2009.Retailread more
"The president is not backing down," says CNBC's Jim Cramer, referring to Trump's repeated calls for the Fed to cut rates while talking tough on China.Economyread more
The market rebound this week hasn't convinced the strategist predicting a "Lehman-like" sell-off that the risk is completely off the table.Marketsread 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.