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 Oilfield services provider Baker Hughes Co missed analysts' estimates for quarterly profit on Wednesday, hit by lower orders in its business that supplies turbines and compressors to liquefied natural gas (LNG) producers.
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Airbus' shares hit record highs on Wednesday, after U.S. arch rival Boeing warned of further delay in returning its grounded 737 MAX airliner to service, while Boeing customers and suppliers fell on the news.
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U.S. President Donald Trump said on Wednesday a tax cut for the middle class would be announced over the next 90 days.
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Airline flydubai, a major Boeing 737 MAX customer, is considering leasing additional aircraft following the latest setback to the grounded jet's return to service.
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Your guide to the investment and business revolution you can't afford to ignore
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 The premarket stock moves of companies reporting earnings would add about a net 22 points to the Dow Jones Industrial Average's price, as a rally in International Business Machines Corp. shares more than offset a drop in Johnson & Johnson's stock . Dow futures rose 79 points. IBM's stock surged 4.0% toward a 3 1/2-month high ahead of the open, with the implied price gain acting as a 37-point boost to the Dow's price. IBM reported late Tuesday revenue that surprisingly increased from a year ago and an adjusted profit that beat expectations. Johnson & Johnson shares slipped 1.5% after the consumer products and pharmaceutical company topped fourth-quarter profit expectations but came up a bit shy on revenue, with the implied price decline acting as a 15-point drag on the Dow.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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Dow Jones Futures: Stock Market Rally Resistant To China Virus; Netflix, IBM, Tesla Rise Investor's Business DailyWall Street falls as China virus reaches the U.S. ReutersWall St weighed down by first US case of coronavirus Financial TimesStock Market Worsens On Coronavirus Fears; China Stocks Hit, but Tesla, Costco Shine Investor's Business DailyView full coverage on Google News
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 (Bloomberg) -- Apple Inc. has asked chipmaking partner Taiwan Semiconductor Manufacturing Co. to increase its output of A-series processors this quarter in order to satisfy higher-than-anticipated iPhone demand, people familiar with the company's plans said.The iPhone 11 and 11 Pro models were well received on their debut in the fall and their sales in China have been particularly strong, outselling 2018's releases in a market that has otherwise been shrinking. Even without fifth-generation wireless networking, iPhone demand has been outperforming the market and Apple's expectations, and the company asked assembly partners to increase their production of the latest generation.The most affordable iPhone 11 model, equipped with an LCD screen, was a particular driver for the increased demand, one person said.New Low-Cost IPhone Said to Enter Mass Production in FebruaryAlong with the popularity of existing models, Apple's business with TSMC is also set for a boost from an imminent iPhone SE successor, a low-cost model that will begin mass production in February ahead of an official unveiling as soon as March, Bloomberg News reported. It will be built around the same processor as the iPhone 11 generation.TSMC spokeswoman Nina Kao said the company doesn't comment on its business with any specific customer. An Apple spokeswoman declined to comment.The Taiwanese chipmaker recently reported earnings above most analysts' expectations and it forecast another good quarter ahead. Though it faces potential headwinds
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Boeing Co said on Tuesday it does not expect to win approval for the return of the 737 MAX to service until mid-year due to further potential developments in the certification process and regulatory scrutiny on its flight control system.
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General Motors Co's self-driving car unit, Cruise, on Tuesday unveiled a prototype electric vehicle with no steering wheel or pedals for use in its planned autonomous ride-sharing service.
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 How will the European Union, China, and Russia respond?
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