After the Fed released minutes of its last meeting, the bond market signaled it fears the Fed will not be aggressive enough with its rate cutting.Market Insiderread more
Analysts generally doubt how effective the People Bank of China's latest interest rate announcement will be in significantly helping businesses grow.China Economyread more
The Fed minutes also note that "a couple" members wanted a 50 basis point cut, based primarily on the weak inflation readings.The Fedread more
Flight bookings to Hong Kong have fallen 10%, hit by the unrest in the city, said Alan Joyce, the chief executive of Australian carrier Qantas Airways.Airlinesread more
Japanese manufacturing activity shrank for a fourth straight month in August as export orders fell at a sharper pace.Asia Marketsread more
These in-demand skills can command top pay packets, says Feon Ang of professional networking site LinkedIn.Get Aheadread more
The Washington governor had centered his campaign around climate change, calling it "the most urgent challenge of our time."Politicsread more
The inversion is seen by many veteran traders as an important recession omen, though the timing on the eventual downturn is less predictable.Bondsread more
Here's what Nordstrom reported for its fiscal second-quarter earnings.Retailread more
The sexy image that once boosted Victoria's Secret has been haunting L Brands more recently, as women are steering clear of the brand's hot pink, lacy and bejeweled lingerie.Retailread more
Ford is one of four automakers that reached a voluntary agreement with California on fuel efficiency rules, defying Trump and his administration's effort to strip the state of...Autosread more
Check out the companies making headlines midday on Friday:
Uber Technologies — Shares of the transportation and food ordering service company fell 7.8% after reporting a huge loss during the second quarter. Uber announced a $5.2 billion loss during the quarter due to substantial stock-based compensation costs.
Micron Technology, Skyworks Solutions — Micron and Skyworks Solutions fell 3.3% and 3.9%, respectively, after Bloomberg News reported the U.S. will hold off on letting U.S. companies use Huawei products. President Donald Trump also said the U.S. will not do business with Huawei. President Donald Trump later said the U.S. is "not going to do business with Huawei."
Activision Blizzard — Activision Blizzard fell 3.6% after issuing weaker-than-expected guidance for the third quarter. Activision reported a forecast for its third-quarter adjusted revenue of $1.10 billion and profit of 20 cents per share, below analysts' estimates of $1.36 billion and 40 cents per share.
CBS — CBS shares dropped 4% despite the company reporting positive results for its quarterly earnings. The company had an adjusted quarterly profit of $1.16 a share, 4 cents above estimates, and revenue also beat forecasts, boosted by ad sales for the NCAA men's basketball tournament and increased content licensing and distribution fees. CBS is in final talks with Viacom on a merger agreement, which is expected soon.
Dropbox — The online file storage and sharing service company's stock nosedived 12.9% after the company's second quarter results missed on two key metrics, which counteracted strong sales and earnings. The company reported deferred revenue of $517.3 million compared to the FactSet estimate of $527.7 million. Deferred revenue is a key metric for subscription-based services such as Dropbox. The company's billings for the quarter also disappointed investors, coming in at $410.4 million. Analysts polled by FactSet expected billings to come in at $420.3 million.
News Corp — News Corp shares jumped 5.1% after the company reported adjusted quarterly earnings of 7 cents a share, beating estimates by 4 cents. The Wall Street Journal publisher's revenue missed forecasts, however, due to lower ad revenue and falling book sales in its publishing unit, as well as other factors. Earnings beat in the quarter due to cost cuts across the company and a higher contribution from News America Marketing than in the previous year.
Nektar Therapeutics — Nektar Therapeutics plunged more than 30% Friday after the company revealed manufacturing errors for a cancer drug that is currently in clinical trial. One version of the drug, which the company is developing with Bristol-Myers Squibb, had recently received a breakthrough designation from the Food and Drug Administration for early results treating melanoma.
Albemarle — Shares of Albemarle slid 5.2% after the chemical company announced its plans to delay construction of about 125,000 tons of lithium processing capacity due to the oversupply of the metal used to make electric vehicle batteries pushing down prices. The trade war between the U.S. and China have upset the commodity markets, particularly Lithium.
DXC Technology — Shares of DXC Technology plummeted more than 30% after lowering its full year guidance for earnings and revenue. The business-to-business IT services company is now targeting earnings between $7.00 and $7.75 per share and revenue between $20.2 billion and $20.7 billion for the year. Last quarter, the company gave guidance of $7.75 to $8.50 in earnings per share and $20.7 to $21.2 billion in revenue. The company did beat expectations in its first fiscal quarter, reporting earnings of $1.74 per share and $4.89 billion in revenue. Analysts had expected $1.71 in earnings per share and $4.882 billion in revenue, according to Refinitiv.