Bank of America CEO Brian Moynihan is not worried about an economic slowdown, saying the U.S. consumer is still in a strong place.Banksread more
Target CEO Brian Cornell says he's encouraged by Trump's decision to postpone some consumer-oriented tariffs that were supposed to start Sept. 1.Retailread more
Corporate debt recently passed the $1 trillion mark in a continuing sign of global financial displacement.Marketsread more
President Trump insists the economy is healthy and says the only thing holding U.S. growth back is the Federal Reserve.Marketsread more
Target shares opened at record high after the retailer beat second-quarter earnings expectations and boosted its full-year estimates.Retailread more
Gluskin Sheff's David Rosenberg predicts one of the strongest parts of the U.S. economy will disappoint Wall Street and lead to a market meltdown.Futures Nowread more
Sanders' sweeping proposal would make it easier for workers to join unions and end the so-called right-to-work laws recently favored by the GOP.2020 Electionsread more
Germany has sold a 30-year bond with a 0% interest rate for the first time on Wednesday.Marketsread more
Morgan Stanley warns that "the wheels for a slowdown are in motion," adding that a slowdown in the manufacturing sector is spreading.Marketsread more
Lowe's also tops rival Home Depot on same-store sales growth in the U.S.Retailread more
Target beats second-quarter earnings expectations thanks to an increase in traffic and sales. The retailer also boosts its full-year estimates.Retailread more
Check out the companies making headlines after the bell:
Shares of RealReal surged 12.7% in after-hours trading after announcing a smaller-than-expected second quarter loss as revenue surged. The luxury consignment company reported an adjusted second-quarter loss of 28 cents per share on revenue of $71.0 million. Analysts had expected a loss per share of 33 cents on revenue of $70.1 million, according to Refinitiv. Both active buyers and orders increased 40% since the second quarter of last year, according to the company's press release. Julie Wainwright, CEO and founder of RealReal, said the company drove marketing leverage and strategic initiatives in the second quarter.
Tilray dropped 7.2% after the cannabis company announced a wider-than-expected second-quarter loss. The company reported an adjusted loss per share of 32 cents on revenue of $45.9 million. Analysts had expected a loss per share of 25 cents on revenue of $41.1 million, according to Refinitiv. Tilray reported increased operating expenses from growth initiatives.
Shares of Myriad Genetics plummeted 16% after the molecular diagnostic company announced disappointing second-quarter earnings. The company reported fourth quarter adjusted earnings per share of 41 cents on revenue of $215 million. Analysts had expected earnings per share of 47 cents on revenue of $221 million. Mark Capone, president and CEO of Myriad, said revenue missed expectations for the fourth quarter due to lower reimbursement for its expanded carrier screening test.
Adaptive Biotechnologies fell by more than 10% after the company posted its first quarterly report since going public. The company posted a loss per share of $1.23, larger than the loss of $1.01 a share a year earlier. Adaptive also reported revenue of $22.1 million, above the $19.3 million consensus estimate from Refinitiv. CEO Chad Robins said the company is progressing on "near-term product applications across our life sciences research, clinical diagnostics, and drug discovery businesses."
Qualcomm named Mark McLaughlin as its new board chairman. McLaughlin previously served as chairman and CEO of Palo Alto Networks. He will replace Jeff Henderson, who will remain on the board. The stock was little changed.