American auto-making giant General Motors clocked higher-than-expected first quarterly profit by cutting costs and selling more expensive trucks, like SUVs and crossover vehicles. However, investors are not quite happy as revenue dropped by 3.4% to $34.88 billion from $36.1 billion during the same quarter a year ago and also missed the Wall Street estimate of $35.28 billion amidst falling vehicle sales and sliding market share.The company’s total market share slid from 17% to 16.1%. On the other hand, adjusted earnings came-in at $1.41 per share against estimate of $1.11 per share.

Kellogg Co is replacing its chief financial officer, and the cereal, breakfast foods and snacks-maker reported a 36.5% decline in first-quarter earnings, citing a strong U.S. dollar and higher costs. CFO Fareed Khan will be replaced on July 1 by Amit Banati, who heads the company’s Asia Pacific, Africa and Middle East business. In addition to the stronger dollar, quarterly earnings were hit by higher spending on divestitures, transportation and commodities costs. Excluding items, Kellogg’s earnings were $1.01 per share, topping analysts’ estimates of 95 cents, according to IBES data from Refinitiv.

Tesla is launching new shares and debt worth more than $2 billion, with Chief Executive Officer Elon Musk pitching-in $10 million as the electric carmaker gave-in to Wall Street pressure to bolster its cash reserves. The company said in the filing that it would seek to raise $650 million in new shares and $1.35 billion in debt, with underwriters having the option to buy an additional 15% of each offering, potentially raising the proceeds to $2.3 billion.

U.S.worker productivity increased at its fastest pace in more than four years in the first quarter, depressing labor costs and suggesting inflation could remain benign for a while. Read more...

Oil prices fell on Wednesday after U.S. crude inventories in the United States soared more than expected to their highest since September 2017 as production hit a record high. Read More...

Snack company Mondelez International Inc MDLZ 1.55% reported Tuesday with first-quarter results that arrived better than expected.On Wednesday, CEO Dirk Van de Put was a guest on CNBC's "Squawk on the Street" segment to discuss the company's performance and outlook. Read More...

Square (NYSE: SQ) slumps 5.6% after Q2 adjusted EPS guidance of 14 cents-16 cents trails the consensus estimate of 18 cents and guidance for Q2 adjusted revenue of $545M-$555M trails the consensus of $555.3M.Read More...

Qualcomm said on Wednesday that it expects to receive $4.5 billion to $4.7 billion from its royalty settlement with Apple.  Read More...

U.S.mortgage applications fell to their lowest levels in six weeks even as home borrowing costs turned cheaper as a result of lower bond yields, the Mortgage Bankers Association said on Wednesday.  The seasonally adjusted index on mortgage activity to buy a home and to refinance one declined 4.3% to 407.2 in week ended April 26, which was the lowest reading since 390.0 in the week of March 15.

U.S.manufacturing activity slowed to a 2-1/2-year low in April as new orders dropped while construction spending unexpectedly fell in March, suggesting economic growth was moderating after surging in the first quarter. One of the reports from the Institute for Supply Management (ISM) showed businesses increasingly anxious that President Donald Trump’s threats to close the U.S.-Mexico boarder would further disrupt the supply chain. The Federal Reserve kept U.S. interest rates unchanged on Wednesday, noting solid economic growth in the first quarter, and also holding out hope that inflation will rise toward the U.S. central bank’s 2% target.

The U.S. Federal Reserve on Wednesday held interest rates steady and signaled little appetite to adjust them any time soon, taking heart in continued job gains and economic growth and the likelihood that weak inflation will edge higher. Read more...

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powered market predictions every day * Learn the secrets pro traders use to find great trades * Research historical statistics * Become a better trader with our optimized A.I. And more!Coinbase CEO Weighs In Cryptocurrency has endured its fair share of ups and downs in recent years.

Long before he became a billionaire, Ray Dalio was a successful investor as a pre-teen. Dalio now heads Bridgewater Associates, the world’s largest hedge fund with roughly $160 billion in assets.But when he was only 12 years old in the early 1960s, Dalio just wanted somewhere to invest the money he’d earned caddying on a golf course and everyone he knew was talking up the stock market.

Brett Arsenault, the top-ranking cybersecurity executive at Microsoft, had fallen asleep on top of his cell phone when it shocked him awake with a buzz. A cyberattack, later dubbed NotPetya, had begun locking down computers and shutting down businesses in Ukraine.READ MORE...

Federal Reserve officials voted to hold interest rates steady Wednesday, as a lack of inflation pressure outweighed an economy that otherwise is growing strongly. The central bank held its benchmark rate in a target between 2.25% and 2.5%, meeting market expectations though perhaps disappointing President Donald Trump, who earlier this week urged the Fed to cut the rate by 1 percentage point.READ MORE...

Mondelez International reported first quarter earnings higher than what analysts’ anticipated. The confectionary company’s earnings of 63 cents a share surpassed analysts’ estimates of 61 cents a share (based on FactSet poll).  The maker of Oreo cookies and Cadbury chocolates reaffirmed its full-year prediction of net revenue growth in the range of 2% and 3%, and adjusted per-share earnings growth range of 3% to 5%.

Unadjusted earnings per share of $3.18 fell from the year-ago quarter’s $3.25. While revenue remained the same at $5.6 billion, expenses in the quarter increased +9% year-over-year to $3.1 billion. The company’s revenue from Blincyto, its first bi-specific antibody for the treatment of cancer, surged +41% year-over-year to $69 million.Sales of its highest selling drug, Enbrel, rose +4% to $1.15 billion. Research & Development (R&D) expenses increased +16% largely towards bolstering the company’s oncology programs, as indicated by Amgen. For the full-year 2019, Amgen projects a revenue range of $22 billion and $22.9 billion.

Worldwide same-store sales for the quarter increased +4% year-over-year (compared to analysts’ expectation of +2.7%).Among the restaurants owned by the company, Pizza Hut’s same-store sales broke even (compared to analysts’ expected +0.4%), Taco Bell’s grew +4% (compared to analysts’ expected +4.6%) and KFC’s increased +5% (compared to analysts’ expected +3%). CEO Greg Creed credited the quarter’s strengths largely to the KFC division and Taco Bell U.S.

Advanced Micro Devices (AMD) Inc.’s earnings managed to narrowly edge past analysts’ estimates for the first quarter. For the quarter ending in March, the semiconductor company’s adjusted earnings came in at 6 cents per share, exceeding the Street consensus estimates by a penny. Even total revenue, which plunged nearly -23% from the year-ago quarter to $1.27 billion, narrowly beat analysts' expectations of $1.26 billion.AMD blamed the year-over-year revenue decline mainly on “lower graphics channel sales, partially offset by increased client processor and datacenter GPU sales.” Looking ahead, AMD expects revenue of $1.47 billion to $1.57 billion for the second quarter, in line with analysts’ forecast of $1.51 billion.