Saudi Arabia has shut down half of its oil production after drones attacked the world's largest oil processing facility in the kingdom.Marketsread more
Yemen's Houthi rebels have claimed responsibility for the attacks, which created a huge fire at a processor essential to global energy supplies.Politicsread more
Oil prices are expected to jump as much as $10 per barrel after a coordinated drone strike hit Saudi Arabia's largest oil field, forcing the kingdom to cut its oil output in...Marketsread more
Trusii's hydrogen water machines were supposed to help users with their health problems, but customers claim the company is involved in a giant scam.Technologyread more
The decoupling of the world's two weightiest economies seems as inescapable as its extent and global impact remains incalculable.Politicsread more
The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
BlackBerry has reinvented itself to become a leader in securing mobile communications and in embedded communications. Next year it plans to roll out new products. CEO John...Evolveread more
Trailers have become a cult phenomenon. Even short teasers that reveal little about the plot of the upcoming film are headline-worthy. Blogs and forums have become devoted...Entertainmentread more
Thanks to the performance of Beyond Meat, investors who focus on venture-backed tech IPOs have done well this year despite some notable disappointments.Technologyread more
Software company Intuit, maker of tax helper TurboTax, is in its eleventh year of stock gains and up 36% this year.Investingread more
CNBC did a deep dive through the most recent Wall Street research to find stocks with upside potential.Marketsread more
Check out the companies making headlines in midday trading:
Caterpillar, Deere — Shares of Caterpillar and Deere fell 1% and 1.1%, respectively, after an analyst at Wells Fargo downgraded them to market perform from outperform. The analyst said Caterpillar's upside from these levels will likely be "limited" while expectations around Deere's ability to reduce costs are "elevated."
SmileDirectClub – Shares of the online dentistry company dropped 27.5% as the company publicly listed on Thursday, opening trading at $20.55 a share. Priced to list at $23 a share, SmileDirectClub is on track to have the worst market debut this year of a "unicorn" company (meaning it is worth over $1 billion). The company priced the IPO above it's expected range of $19 to $22.
Aurora Cannabis – Shares of cannabis company Aurora Cannabis tanked nearly 8.9% after reporting disappointing fourth quarter earnings and weak guidance. The company reported revenue of CA $98.9 million, compared to analysts' expectations of CA$108.3 million, according to Refinitiv. GAAP earnings per share was 0 cents per share, which is unlikely to be comparable to estimates.
Oracle – Shares of computer software company Oracle dropped 4.3% on news that the company's CEO Marc Hurd would be taking a leave of absence for medical reasons. The company also missed on its quarterly revenue. It reported revenue of $9.22 billion, while Wall Street expected $9.29 billion, according to Refinitiv. Earnings per share came in line with estimates at 81 cents.
Activision Blizzard – Nomura raised its rating of the gaming company to buy from neutral, with shares climbing 1% after the upgrade. Nomura cited several drivers from Activision Blizzard for the upgrade, including the better than expected launch of World of Warcraft Classic and new features of hit game Overwatch.
Oxford Industries – The apparel maker's stock dropped 6.7% after Oxford Industries missed expectations on its second quarter earnings. Oxford Industries lowered its expected full year earnings to account for the impact of tariffs, to a range of $4.25 a share to $4.45 a share from its previous range of $4.45 a share to $4.65 a share.
Yelp – Shares of Yelp rose 5.6% after the Wall Street Journal reported that Groupon may be looking to acquire Yelp. The report, citing people familiar with the plans, said Yelp may yield $1 billion in earnings, as well as $200 million in synergies; although some Groupon shareholders are reportedly concerned about Yelp's recent performance.
DXC Technology – The information technology company's stock dropped 11% after it announced the retirement of CEO Mike Lawrie. Several analysts downgraded DXC's shares, according to FactSet, with firms expecting a new CEO will delay and slow the company's growth plan.
AT&T – The telecommunications giant's stock dropped 1% as the company warned that it will see lower revenues from wireless equipment due to persistent low rates of upgrades.
– CNBC's Maggie Fitzgerald and Fred Imbert contributed to this report.