Qualcomm reported a five percent increase in first-quarter profit, driven by demand for chips used in mobile phones and other devices, with results topping Wall Street estimates. The company cut its guidance for the full year, citing competition in China, sales to a key customer and revised expectations related to OEM mix. Qualcomm shares slid 8%, following the announcement.
Casino operator Las Vegas Sands Corp (LVS), Wednesday reported an increase in profit for the fourth quarter, as lower operating costs helped offset a revenue drop of 7 percent. Earnings for the quarter trumped Wall Street estimates, but revenues fell short of expectations hurt by weak Macau operations.
Social networking giant Facebook, Inc. said Wednesday after the markets closed that its fourth quarter profit rose 34% from last year, as revenue surged amid strong growth in mobile advertising. The company's quarterly earnings per share, excluding items, also came in above analysts' expectations as did its quarterly revenue.
After failing to sustain an initial upward move, stocks showed a substantial downturn over the course of the trading day on Wednesday. The losses on the day extended the sell-off seen in the previous session, with the Dow falling to its lowest closing level in over a month.
Looking to move beyond the conflicts between her predecessor and Republican lawmakers, Attorney General nominee Loretta Lynch offered the new GOP-controlled Congress a fresh start in remarks as she began her confirmation hearing on Wednesday.
U.S. crude oil plunged to end below the $45-mark on Wednesday, after an official weekly oil report from the Energy Information Administration showed crude oil stockpiles in the U.S. to have surged more than expected last week, with inventories at an 80-year high.
Earlier today, a weekly report from...
While the Senate continues to debate legislation authorizing construction of the Keystone XL oil pipeline, Democrats are already looking ahead to the next fight over a bill providing funding for the Department of Homeland Security.
Gold futures ended lower on Wednesday, ahead of the two-day Federal Reserve policy meet outcome with the dollar trending higher against a select band of currencies.
Markets expect no change to the Fed rate, but await cues as to when the first rate hike may come. Some analysts predict tightening in...
The Federal Reserve on Wednesday repeated its pledge to remain "patient" on raising interest rates amid unusually low inflation that could derail the U.S. economic recovery.
"Information received since the Federal Open Market Committee met in December suggests that economic activity has been expanding...
In order to address the problem of fuel leaks in some vehicle models, Porsche, Audi and Volkswagen are recalling over 93,000 cars and SUVs globally, according to reports.
American Express Co. (AXP) has reportedly announced plans to start banking operations in Cuba, after President Barack Obama lifted the ban on operations of US banks in Cuba.
However, the New York-based company did not disclose when customers can begin availing its facilities in Cuba.
Burger chain Shake Shack Inc. in a regulatory filing on Wednesday said it has increased the price of its initial public offering to a range of $17 to $19.
The burger chain will now offer 5 million shares at $17 to $19 per share, up from its initial range of $14 to $16 per share, and can raise up to...
After failing to sustain an early upward move, stocks have given back ground over the course of the trading day on Wednesday. The major averages have pulled back well off their highs for the session and briefly dipped into negative territory.
France is reported to be considering new laws that will make Internet companies like Google and Facebook liable for social media posts inciting terrorism.
Former Secretary of State Hillary Clinton is willing to testify before the House Select Committee investigating the 2012 terrorist attacks in Benghazi, according to the top Democrat on the panel.