Saturday's attack is the biggest on Saudi oil infrastructure since Saddam Hussein's invasion of Kuwait in 1990.Energyread more
Saudi Aramco is aiming to restore by Monday about a third of its crude output that was disrupted after drone attacks on two key oil facilities, The Wall Street Journal...Marketsread more
"Blaming Iran won't end disaster. Accepting our April '15 proposal to end war & begin talks may," Zarif said on Twitter.Energyread more
Oil prices are expected to jump as much as $10 per barrel after a coordinated drone strike hit Saudi Arabia's largest oil field, forcing the kingdom to cut its oil output in...Marketsread more
Apple's new iPhones can still send texts, download apps, and make video calls, but the company spends a lot of time and effort marketing its new phones as powerful photography...Technologyread more
The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
Some U.S. manufacturers say tariffs, if targeted, will help address longstanding unfair trade practices like intellectual property theft.Traderead more
Supporters of a $15 minimum wage ballot initiative in Florida argue the state's inflation-tied pay hikes have not gone far enough.2020 Electionsread more
Saudi Arabia shut down half its oil production Saturday after drone strikes hit the world's largest oil processing facility in an attack claimed by Yemen's Houthi rebels.Politicsread more
Trusii's hydrogen water machines were supposed to help users with their health problems, but customers claim the company is involved in a giant scam.Technologyread more
The decoupling of the world's two weightiest economies seems as inescapable as its extent and global impact remains incalculable.Politicsread 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.