Fans gather at the Netflix booth at a trade show. Mike Blake | Reuters Check out the companies making headlines after the bell: Netflix fell more than 12% in after-hours trading following the release of its second-quarter earnings. The streaming giant reported global net adds of 2.7 million — much lower than earlier stated guidance
Finance
Traders work on the floor of the New York Stock Exchange (NYSE) in New York. Brendan McDermid | Reuters Check out the companies making headlines midday on Wednesday: CSX — CSX dropped more than 10% after the transportation company’s second-quarter earnings missed estimates and it cut its revenue forecast. CSX reported earnings of $1.08 on
Brian Moynihan, CEO, Bank of America Scott Mlyn | CNBC Bank of America posted profit that exceeded analysts’ expectations on strength in its sprawling retail bank. The lender generated $7.3 billion in second-quarter profit, an 8% increase from a year earlier, or 74 cents a share, compared with the 71 cent estimate of analysts surveyed by
The construction of a housing and resort district in Liaocheng, China. Zhang Peng | LightRocket | Getty Images As China‘s economic growth slows, some analysts say Beijing may return to some of its old policies — like building more infrastructure and easing property controls — and that could add to existing concerns about high levels
Federal Reserve Chairman Jerome Powell repeated his pledge to “act as appropriate” to keep the economic expansion going as his fellow central bankers move toward an expected interest rate cut later this month. In speech delivered Tuesday in Paris, the central bank chief detailed misgivings among Fed officials over trade developments and global growth that
European stocks are set to begin Tuesday’s session mixed as traders monitor a slew of earnings reports. European Markets: FTSE, GDAXI, FCHI, IBEX Britain’s FTSE 100 is seen 12 points lower at 7,529, Germany’s DAX up just 3 points at 12,399, and France’s CAC down 9 points at 5,575, according IG index data. Market players
The depressed valuations for banks and other financial firms mean “this is the time” for acquisitions and mergers in the industry, a former CEO of Wells Fargo said Monday. “Anytime you have high regulations in any industry, you get concentration, and banks are cheap,” Richard Kovacevich said on CNBC’s “Closing Bell. ” “So if you’re
The chief investment officer of Guggenheim said on CNBC on Monday that he had been approached by the White House about possibly joining the Federal Reserve. Guggenheim’s Scott Minerd said that discussions took place over the past couple of months before President Donald Trump announced his intention to nominate former advisor Judy Shelton and St.
European stocks are set to rise Monday, despite worries China’s economy is slowing amid a trade war with the U.S. European Markets: FTSE, GDAXI, FCHI, IBEX Britain’s FTSE 100 is seen climbing 6 points to 7,505, Germany’s DAX is set to rise 36 points to 12,351, and France’s CAC is expected to open 12 points
Even if the Federal Reserve cuts rates later this month, Wilmington Trust’s Meghan Shue warns the market is vulnerable to a correction. The firm’s senior investment strategist believes Wall Street is overestimating the Federal Reserve’s influence to support the record highs. “The market is putting a lot of stake in the ability of the Fed