Qualcomm shares fall 6% on dour current-quarter forecast
Qualcomm Inc missed quarterly revenue estimates and forecast current-quarter revenue and profit below analysts’ expectations on Wednesday, sending its shares down nearly 6% in extended trading.
Whiting Petroleum posts surprise quarterly loss, cuts 33% workforce
Oil and gas producer Whiting Petroleum on Wednesday reported a surprise quarterly loss, announced a 33% job cut and asset sales as a lack of natural gas infrastructure hits prices.
S&P 500 posts biggest drop since May after Fed cut, Powell comments
The Dow and S&P 500 suffered their biggest daily percentage drops since May 31 on Wednesday after the Federal Reserve cut interest rates for the first time in a decade, but remarks by Fed Chair Jerome Powell dampened expectations for further cuts going forward.
Fitbit lowers 2019 revenue forecast, shares sink 16%
Wearable device maker Fitbit Inc forecast third-quarter revenue below analysts’ estimates and lowered its 2019 sales outlook as the company expects weak smartwatch sales and lower average selling price.
PG&E says it ‘strongly disagrees’ delayed maintenance played role in Camp Fire
PG&E Corp said in court papers on Wednesday that it “strongly disagrees” with a suggestion in a Wall Street Journal article that the company knowingly deferred maintenance on equipment that caused California’s Camp Fire, the deadliest and most destructive wildfire in California’s modern history.
Text of the FOMC statement
Following is the full text of the statement released by the Federal Reserve’s Federal Open Market Committee on Wednesday following a two-day meeting:
Is Trump the reason the Fed cut rates?
U.S. President Donald Trump’s repeated calls for easier monetary policy may not be what drove the Federal Reserve to cut interest rates on Wednesday.
Oil rises as U.S. crude stocks fall again, Fed cuts interest rates
Oil prices rose for a fifth day on Wednesday following a larger-than-expected drop in U.S. inventories and after the Federal Reserve cut U.S. interest rates for the first time in more than a decade.
Dollar up, stocks fall after Fed cut; pound rebound stalls
The dollar index rose on Wednesday and stocks tumbled even as the Federal Reserve cut interest rates after Fed Chairman Jerome Powell said the 25-basis-point cut was not the same as the beginning of a lengthy rate cutting cycle.
Fed cuts rates for first time since 2008
Wall Street turned negative after Federal Reserve Chairman Jerome Powell in a press conference after the Fed announced its first rate cut since 2008 characterized it as a mid-cycle policy adjustment, adding that the decision was different from the begi…
