What to watch today: Dow struggles, Brexit deal hopes fade, and Pinterest tanksMay 17, 2019
BY THE NUMBERS
IN THE NEWS TODAY
President Donald Trump’s latest financial disclosure report shows in 2018 he had at least $434 million in revenue from all sources, including various businesses such as hotels and golf courses. The president saw Mar-a-Lago monies fall.(CNBC)
When asked if the U.S. is going to war with Iran, Trump said: “Hope not.” Within hours later, The New York Times reported that Trump has told acting Defense Secretary Patrick Shanahan that he doesn’t want to go to war. (CNBC)
Former national security advisor Michael Flynn provided special counsel Robert Mueller with information about possible efforts to interfere or obstruct his investigation, according to documents made public late this week. (CNBC)
The Federal Railroad Administration terminated a 2010 agreement with the California High-Speed Rail Authority and will pull a nearly $929 million grant. The FRA said the California agency “repeatedly failed to comply with the terms.” (CNBC)
The CEO of Singapore Airlines told reporters and analysts today that an order for 31 Boeing (BA) 737 Max jets remains “intact” despite the aircraft model’s two deadly crashes in Ethiopia and Indonesia. (CNBC)
Tesla (TSLA) CEO Elon Musk has told employees he will scrutinize expenses even more closely, as the electric car maker tries to cut costs further. (Reuters)
Amazon (AMZN) is leading a $575 million funding round for Deliveroo, taking the total the food delivery app has raised to date up to $1.53 billion. Others taking part include existing investors T. Rowe Price and Fidelity Management. (CNBC)
Haven, the health joint venture formed last year by Amazon AMZN), Berkshire Hathaway (BRK.A) and J.P. Morgan (JPM), has lost Chief Operating Officer Jack Stoddard just nine months into his new role. (CNBC)
I.M. Pei, whose modern designs and high-profile projects made him one of the most prolific architects of the 20th century, died at age 102. The Louvre, parts of which date to the 12th century, proved his most controversial work. (Reuters)
STOCKS TO WATCH
Applied Materials (AMAT) reported adjusted quarterly profit of 70 cents per share, beating estimates by 4 cents. The semiconductor manufacturing equipment maker also reported better than expected revenue and forward guidance.
Nvidia (NVDA) beat estimates by 7 cents with adjusted quarterly profit of 88 cents per share, with the graphics chipmaker also reporting a slight beat. Nvidia’s results were helped by growing demand for its gaming chips.
Baidu (BIDU) missed estimates on both the top and bottom lines in its latest earnings report, and the China-based search engine company also gave a quarterly revenue outlook that falls below analyst forecasts.
HBO on Sunday will air the final episode of “Game of Thrones” and not everyone is pleased. A petition by an angry fan demanding that HBO remake the final season has now been signed by more than 750,000 people. (CNBC)
Grumpy Cat, the face of countless memes, has died at the age of 7. The internet sensation — real name Tardar Sauce — shot to fame as a figurehead of online culture thanks to her permanent frown (NBC News)
Source of this (above) article: https://www.cnbc.com/2019/05/17/what-to-watch-today-dow-brexit-hopes-fade-pinterest-tanks.html