The company's S-1 lays the groundwork for what is widely expected to be one of the largest initial public offerings of the year, second only to Uber's IPO in May. It's also...Technologyread more
Fraud investigator Harry Markopolos' accusations extended beyond GE's management to actuaries, auditors and analysts who he claims overlooked billions in liabilities.Marketsread more
Trump's tweet comes a day after Apple put out a press release describing the money it spends on U.S.-based suppliers and vendors.Technologyread more
CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.Marketsread more
President Donald Trump held a call on Wednesday with the CEOs of three major U.S. banks, according to people with knowledge of the situation.Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
Scientists say the smoke plumes, filled with megatons of tiny, harmful particles, could travel to other areas of the world and cause serious respiratory problems for people.Weather & Natural Disastersread more
Some Weight Watchers loyalists applaud Kurbo by WW. But nutritionists worry Kurbo promotes an unhealthy relationship with food during an especially impressionable time.Health and Scienceread more
Benefits from what President Trump called "the biggest reform of all time" to the tax code have dwindled to a faint breeze just 20 months after its enactment, writes John...Politicsread more
Epstein, 66, was found in his cell in Manhattan federal lockup Saturday morning and transferred to a nearby hospital, where he was subsequently pronounced dead.Politicsread more
Air travelers faced delays at U.S. airports on Friday afternoon after a computer issue snarled processing of international arrivals.Airlinesread more
Check out the companies making headlines midday Wednesday:
Apple — Apple rose 4.3% after announcing better earnings, sales and guidance than analysts expected. The tech giant reported earnings of $2.18 per share and $53.8 billion in revenue, as growth in services and wearables helped offset declining iPhone revenue. Wall Street expected $2.10 in earnings per share on $53.39 billion in revenue, according to Refinitiv. Apple also gave a guidance of $61 to $64 billion in revenue for next quarter, topping a Refinitiv estimate of $60.98 billion.
Electronic Arts — Shares of Electronic Arts jumped more than 6% after the video game publisher reported better-than-expected revenues. The company generated $743 million in revenue in its fiscal first quarter, topping analysts' consensus of $719 million, according to Refinitiv. A 12% rise in net bookings for live services, including the publisher's Apex Legends game, helped offset declines in other areas.
Molson Coors — Molson Coors plunged more than 8% on Wednesday, at one point hitting a 52-week low, after the brewing company whiffed on earnings. The beer maker reported $1.52 in earnings per share, excluding certain items, and $2.948 billion in revenue, a 4.4% decline from the same quarter last year. Wall Street was looking for $1.65 per share on $3.027 billion, according to Refinitiv.
Lattice Semiconductor — Shares of the chipmaker rose on the back of stronger-than-expected quarterly results. Lattice reported earnings per share of 15 cents on revenue of $102.3 million. Analysts polled by FactSet expected a profit of 11 cents a share on sales of $99.7 million. "We continue to drive operational improvements and we are also benefiting from strength in our communications, computing, and industrial markets," said CEO Jim Anderson.
2U — The software company's stock plummeted nearly 60% on a bigger-than-forecast quarterly loss for the second quarter and a downbeat outlook for 2019. 2U reported a loss of 42 cents a share while analysts polled by Refinitiv expected a loss of 35 cents per share. The company also expects full-year losses to range between $1.25 per share and $1.16. Previously, 2U expected to lose between 34 cents per share and 31 cents. CEO Christopher Paucek said 2U is setting itself on a "defined path to profitability by tempering short-term growth projections."
Spotify Technology — Spotify shares fell 2.2% after the company reported weaker-than-expected subscriber growth for the second quarter. The music streaming giant grew its paid subscriber base to 108 million, short of analysts' estimate of 108.5 million.
Criteo — Shares of the internet advertising company jumped more than 8% as investors cheered second-quarter earnings and revenue that beat analyst expectations. Criteo reported a profit of 47 cents per share on sales of $528 million. Analysts expected earnings of 41 cents per share on revenue of $222.6 million. The company said business from new clients helped offset slowing business with existing ones.
Dine Brands Global — Dine Brands fell 5.4% on weaker-than-expected results for the second quarter. The food-service company, which owns iHop and Applebee's, pulled in $228.1 million in revenue and $1.71 in earnings per share. Analysts polled by Refinitiv had forecast revenue of $234.4 million and a profit of $1.81 per share. Applebee's same-store sales fell 0.5% in the quarter. Dine Brands also lowered its full-year earnings outlook.
Akamai Technologies — Akamai Technologies shares jumped 7.6% after the company's second-quarter results topped analyst expectations. The content delivery network and a cloud service provider reported earnings per share of $1.07 on revenue of $705 million. Analysts polled by Refinitiv expected a profit of $1 per share on sales of $695.8 million. Revenue from Akamai's security business jumped 32% to $205 million in the quarter and revenue from the media and carrier division rose 4% to $325 million. The company also saw growth in its Akamai Edge platform from the growing video streaming market.