While the U.S. gave Huawei a 90-day reprieve, allowing American businesses to keep selling specific products to the Chinese firm, it also added more affiliates of the...Technologyread more
The attacks come after state and local ransomware attacks in New York, Louisiana, Maryland and Florida resulted in the loss of significant sums.Technologyread more
U.K. Prime Minister Boris Johnson told the EU that a Brexit deal can still be approved by U.K. lawmakers if Brussels agrees to scrapping the contentious Irish "backstop."read more
Baidu posted better-than-expected earnings for the June quarter, swinging back to profit and managing to stabilize its core ad business.Technologyread more
United States Steel Corp will temporarily lay off hundreds of workers at its Great Lakes facility in Michigan in coming weeks, according to a filing the steelmaker made with...US Marketsread more
While Hong Kong leader Carrie Lam painted a bleak picture of the city's economy, she expressed hope that dialogue with protesters could provide "a way out."China Politicsread more
China's pursuit of the Middle East may spur growth in the Islamic finance sector.World Economyread more
Twitter and Facebook have suspended accounts believed to be tied to a state-backed disinformation campaign originating from inside China.Technologyread more
U.S. President Donald Trump and his former White House communications director Anthony Scaramucci have had a public falling out recently.Politicsread more
The report comes as Trump in recent days has lashed out over media reports about growing recession fears.Politicsread more
Beijing will lower borrowing costs for companies, but that may not boost the economy as much as some hope.China Economyread more
Check out the companies making headlines after the bell.
Shares of Pinterest climbed as much as 15% in after-hours trading after the social media company reported second-quarter earnings that beat Wall Street's expectations. The company's reported a loss of $26 million for its adjusted EBITDA, versus the loss of $39 million analysts had been expecting. Pinterest saw a revenue of $261 million for the quarter — analysts had been expecting $236 million.The company also raised its 2019 revenue guidance above analysts' estimates. Pinterest expects to report revenue between $1.095 billion to $1.115 billion versus consensus estimates of $1.079 billion.The company said in May it saw significant growth in countries like the U.K. and Canada, and has rolled out a number of new updates to its platform in recent months around shopping and wellness.
Etsy fell 7.5% following the release of the e-commerce marketplace reported mixed second-quarter earnings. The company reported earnings per share of 14 cents on revenue of $181 million. Analysts had expected earnings per share of 13 cents on revenue of $183 million, according to Refinitiv. "We are making great progress improving our product experience and marketing capabilities," Etsy CEO Josh Silverman said in a statement. He added that the company has "bold new initiatives" which it believes will enhance the shipping experience, among other things.
Square fell as much as 8% after the payments company beat Wall Street's expectations for its second-quarter earnings and revenue but reported a guidance weaker than expected. The company reported adjusted earnings per share of 21 cents on revenue of $563 million, versus the earnings per share of 17 cents on revenue of $557 million analysts surveyed by Refinitiv had been expecting. For the third quarter, Square forecasted earnings per share of between 18 cents and 20 centss per share, compared to 22 cents analysts had estimated.
GoPro fell 3% after reporting worse-than-expected earnings for its second quarter. The camera maker reported adjusted earnings per share of 3 cents on revenue of $292 million, versus the earnings per share of 4 cents on revenue of $302 million analysts polled by Refinitiv had been expecting.
Shares of Glu Mobile plummeted 21% after the mobile gaming company beat analysts' expectations with its second-quarter revenue, but dragged on bookings guidance. The company reported revenue of $101.9 million versus the $101.7 million analysts polled by Refinitiv had been expecting. Glu sees third-quarter bookings between $110 million and $112 million versus the estimated $121 million. For 2019, it sees between $406 million and $410 million, versus the estimated $446 million. In a statement, COO and CFO Eric Ludwig said, "We revised our annual guidance primarily to reflect the timing of new launches, contribution from newly launched titles and incremental UA investment to take advantage of favorable ROI opportunities."
GoDaddy fell 4.4% after the announcement that its CEO Scott Wagner will step down for health reasons, despite the company beating Wall Street's estimates for its second-quarter earnings. The web hosting company reported revenue of $737 million, versus the $735 million analysts surveyed by Refinitiv had been expecting. GoDaddy announced that Wagner will be replaced by Aman Bhutani, previously president of Brand Expedia Group.