Today's Top Story
Tesla promises return to profit in third quarter after large loss, may raise more capital
(Reuters) - Tesla Inc lost $700 million in the first quarter but predicted it would return to profit in the third quarter as it cuts costs and improves delivery after facing issues ramping up shipments outside the United States. Read More
Business News
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Facebook beats profit estimates, sets aside $3 billion for privacy penalty
(Reuters) - Facebook Inc on Wednesday blew away Wall Street profit estimates in the first quarter as it kept a lid on the costs of making its social networks safer, and set aside $3 billion to cover a settlement with U.S. regulators, calming investors who had worried about the outcome of a months-long federal probe.
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Microsoft gets a boost from Windows as cloud stays on track
(Reuters) - Microsoft Corp beat Wall Street estimates for quarterly profit and revenue on Wednesday, powered by a surprise boost in Windows revenue and as growth in its cloud business stayed on track.
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Boeing abandons outlook, takes $1 billion cost hit in MAX crisis
(Reuters) - Boeing Co on Wednesday abandoned its 2019 financial outlook, halted share buybacks and said lowered production due to the grounding of its fastest-selling 737 MAX jet after two fatal plane crashes in five months had cost it at least $1 billion so far.
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Economic News
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Wall Street edges lower, energy stocks fall
NEW YORK (Reuters) - The S&P 500 slipped on Wednesday after ending the previous session with a record and the Nasdaq failed to hold all-time highs reached earlier in the day while investors waited for more earnings reports.
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Older workers helped fuel recent U.S. growth. Can it last?
MILWAUKEE, Wis. (Reuters) - As a record-breaking economic expansion nears the decade mark, people like Marty Groth may determine whether it is forced into a lower gear.
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Trump says U.S.-China trade talks going well
WASHINGTON (Reuters) - U.S. President Donald Trump on Wednesday said ongoing trade talks between the United States and China were going well, as the world's two largest economies continue to try to hammer out a final deal.
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Money News
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Fewer Americans seeing crucial Social Security document due to budget cuts
CHICAGO (Reuters) - (The opinions expressed here are those of the author, a columnist for Reuters.)
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UBS Wealth closes U.S. equity overweight, favors emerging stocks
(Reuters) - UBS Global Wealth Management has closed its overweight position in U.S. equities and shifted to an overweight in emerging market and Japanese stocks, it said on Thursday.
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Bridgewater warns of peak U.S. profit margins, lower stock prices
(Reuters) - The major drivers of high U.S. corporate profit margins are unsustainable and "now under threat", which will eventually result in much lower equity prices, Bridgewater Associates, the world's largest hedge fund, said on Wednesday in a report.
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