Saturday's attack is the biggest on Saudi oil infrastructure since Saddam Hussein's invasion of Kuwait in 1990.Energyread more
Saudi Aramco is aiming to restore by Monday about a third of its crude output that was disrupted after drone attacks on two key oil facilities, The Wall Street Journal...Marketsread more
"Blaming Iran won't end disaster. Accepting our April '15 proposal to end war & begin talks may," Zarif said on Twitter.Energyread 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
Apple's new iPhones can still send texts, download apps, and make video calls, but the company spends a lot of time and effort marketing its new phones as powerful photography...Technologyread 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
Some U.S. manufacturers say tariffs, if targeted, will help address longstanding unfair trade practices like intellectual property theft.Traderead more
Supporters of a $15 minimum wage ballot initiative in Florida argue the state's inflation-tied pay hikes have not gone far enough.2020 Electionsread more
Saudi Arabia shut down half its oil production Saturday after drone strikes hit the world's largest oil processing facility in an attack claimed by Yemen's Houthi rebels.Politicsread 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
Check out the companies making headlines in midday trading:
Bank of America, Citigroup, J.P. Morgan Chase — Bank shares jumped along with Treasury yields as worries over a U.S. recession dissipated on the back of strong economic data. Bank of America rose 1.69%, J.P. Morgan both rose 1.9% while Citigroup gained 1.5%. The benchmark 10-year yield shot up to 1.87 from around 1.78 in the previous session. Rates rose following the release of retail sales and consumer sentiment data that topped expectations.
Lumber Liquidators — Shares of the flooring company plunged 13.1% Friday after founder and former CEO Thomas Sullivan decided to opt out of his bid to take the company private, a week after he announced the buyout plan. Sullivan had upped his ownership of Lumber by 30% or 500,000 shares on Sept. 4 through his F9 Investments, saying he was taking his former company private.
Broadcom — Broadcom stock fell more than 3% after reporting adjusted quarterly profit of $5.16 per share, topping what Wall Street analysts had been expecting. The chipmaker's revenue came in slightly below Wall Street forecasts, however, and Broadcom gave a cautious forecast for semiconductor market demand.
Netflix — Shares of streaming service Netflix rose more than 1.8% after Piper Jaffray said the recent dip in Netflix shares is a buying opportunity. The firm said despite new players entering the streaming service space like Apple and Disney, Netflix will be able to capture a good portion of content dollars. Piper Jaffray reiterated its outperform rating and a $440 price target on the stock.
Apple — Shares of the tech giant slipped nearly 2% after Goldman Sachs significantly cut its earnings outlook for Apple, citing a "material negative impact" on earnings for the accounting method the iPhone maker will use for an Apple TV+ trial. Goldman's new price target is the lowest of the major Wall Street banks, according to TipRanks.com.
General Electric — Shares of the beleaguered industrials company rose about 1% Friday after CEO Larry Culp on Thursday said at an investor conference he expects asset sales to bring in about $38 billion in cash. The chief also said the company's pension benefit obligations will rise by about $7 billion but not require a cash contribution.
Progressive — Progressive sank 5.5% in midday trading after the company reported August pretax net realized losses on securities of $33.7 million and operating income below what analysts had expected. The move put shares on track for their worst day on Wall Street since November.
– CNBC's Maggie Fitzgerald, Fred Imbert, Yun Li and Michael Sheetz contributed to this report.