Oil prices slid and world equity markets seesawed on Wednesday as investor hopes for a pickup in business activity were dashed by downbeat economic data and a rise in U.S. crude stockpiles to three-year highs that highlighted low fuel demand.
The S&P 500 and the Dow fell on Wednesday as declines in financials and defensive groups countered gains in tech shares and as data showed U.S. private employers laid off 20 million workers in April, underscoring the economic fallout of the coronavirus outbreak.
The U.S. Department of Commerce is close to signing off on a new rule that would allow U.S. companies to work with China's Huawei Technologies on setting standards for next generation 5G networks, people familiar with the matter said.
Lyft Inc on Wednesday surprised investors with higher-than-expected revenue and the ride-hailing company vowed further cost cuts to become profitable as the U.S. coronavirus lockdown batters the economy.
T-Mobile US Inc added more monthly bill paying phone subscribers than expected in the first quarter, thanks to cheaper plans compared to its rivals and a surge in demand for phone services as people work from home amid lockdowns.
Fox Corp beat Wall Street estimates for third-quarter revenue and profit on Wednesday as Super Bowl broadcast boosted television viewership, sending the company's shares up more than 2% in extended trading.
With many Americans still counting the days until they get their $1,200 checks, some are in for a surprise. If you're American, but your spouse is not, you may not be qualified. Now, some groups are suing the government over the issue.
Payment processor Paypal Holdings Inc reported an 87.4% slump in first-quarter profit on Wednesday, as consumers spent less due to the COVID-19 lockdowns and unemployment numbers surged.
The New York Times Co crossed five million digital subscribers, adding a record number and withstanding a heavy drop in ad revenue in the first quarter that was dominated by heavy news coverage around the COVID-19 pandemic.
T-Mobile US Inc added more monthly bill paying phone subscribers than expected in the first quarter, thanks to a surge in demand for cheaper phone services as people work from home amid lockdowns.
Lyft Inc on Wednesday posted higher-than-expected revenue and the ride-hailing company vowed further cost cuts to become profitable, saying ridership hit by the coronavirus pandemic had improved in late April.
Peloton Interactive Inc raised its forecast for full-year revenue on Wednesday as "stay at home" orders encouraged more people to buy the company's exercise bikes and fitness subscriptions plans.
Peloton Interactive Inc raised its forecast for full-year revenue on Wednesday as "stay at home" orders led to a surge in sales of the company's exercise bikes and fitness subscriptions, sending its shares up 5%.
PayPal Holdings Inc said it expects a strong recovery in payments volumes in the second quarter as social distancing drives more people to shop online, even as lockdowns start to ease, sending its shares up 8% in extended trading.
Sinclair Broadcast Group has agreed to pay a $48 million fine to the Federal Communications Commission (FCC) resolving the probe into the company's abandoned deal to buy Tribune Media in what the agency said was its largest-ever civil penalty.