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 Intel Corp. shares dropped in the extended session Thursday after the chip giant's outlook fell way below Wall Street estimates offsetting an earnings beat.
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Shares of Microsoft topped the $130.50 value needed to give the company a market value of $1 trillion, joining Apple and Amazon.com as the only U.S. companies to ever reach that mark.
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 Uber Technologies Inc. will price its highly anticipated initial public offering at between $44 and $50 a share, according to multiple reports late Thursday, valuing the company at between $80 billion and $90 billion. Reuters, Bloomberg News and the New York Times all independently reported the figures, which the ride-hailing company is expected to make official with an announcement Friday to kick off its investor road show. While some investment bankers had said Uber could be valued at $120 billion, the figure for the IPO will apparently be closer to the $76 billion it was privately valued at for a fund-raising round last year. It is still on track to be the largest IPO since Alibaba went public in 2014. Uber is expected to list shares on the New York Stock Exchange in May under the ticker symbol UBER.
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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 Ford Motor Co on
Thursday posted a better-than-expected first quarter largely due
to strong pickup truck sales in its core U.S. market and said it
was more confident in its forecast 2019 would bring better
results than last year.
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Big tech stocks including Microsoft have been leading the market higher, a rally that would have been hard to imagine at the end of 2018.
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 Ford Motor Co on Thursday posted a better-than-expected first-quarter largely due to strong pickup truck sales in its core U.S. market and said it was more confident in its forecast 2019 would bring better results than last year.
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RELATED ARTICLES | | |
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Shares of 3M Co. ring up the biggest one-day decline in over 30 years, after the industrial, health-care and consumer products company missed profit and revenue expectations, slashed its full-year outlook, and said it was cutting 2,000 jobs.
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Warren Buffett's Berkshire Hathaway Inc. bought back about $1.3 billion of its own stock last year, but the billionaire says that figure could wind up totalling as much as $100 billion.
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 Intel stock drops 8% on disappointing outlook
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Licensing company Authentic Brands Group LLC has emerged as a leading contender to buy Sports Illustrated from Meredith Corp., according to people familiar with the matter.
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Tesla Inc. stock ended Thursday at its lowest since March 2017 and under $250 a day after the Silicon Valley car maker posted a wider-than-expected first-quarter loss and revenues that also missed Wall Street expectations. Shares closed 4.4% lower, their largest one-day decline since their 8.2% dip on April 4. It traded as low as $246.07 earlier. Analysts decried Tesla's quarterly results and renewed concerns about margins, demand, and cash position. The stock has lost more than 11% in the past 12 months, versus a gain of 11% for the S&P 500 index.
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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RELATED ARTICLES | | |
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Intel Corp.'s new permanent chief executive should arrive to his first earnings report with a full deck of updates for investors after what is expected to be a slow start to 2019.
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Amazon plans to make Prime shipping one-day by default Ars TechnicaAmazon Prime two-day shipping will go down to one day CNETAmazon to give Prime customers one-day shipping, cutting free delivery time in half MarketWatchAmazon to offer free one-day shipping to Prime members, will invest $800 million to get there Yahoo FinanceAmazon to make Prime shipping one day Business InsiderView full coverage on Google News
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Brazil's largest fashion
retailer, Lojas Renner SA, reported on Thursday a
quarterly net profit that was 45 percent higher year-on-year and
greatly exceeded market expectations, helped by double-digit
sales growth despite a sluggish economy.
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Orders for long-lasting durable goods posted the biggest increase in March since last summer, potentially signaling a small rebound in the slower-growing industrial side of the economy. Durable-goods orders leaped 2.7% last month.
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Wedbush analyst Daniel Ives downgraded shares of Tesla Inc. to neutral from outperform following the company's first-quarter earnings report, in which the company posted a sizable loss. Shares are down 1.2% in premarket trading Thursday. "The demand story at Tesla is quickly changing and the company has unfortunately not adjusted to an evolving [electric-vehicle] landscape (especially in the U.S.) with the well thought out marketing and distribution logistics needed to manage this difficult and complex hand holding process for customers, employees, and investors," Ives wrote. "To this point, in our 20 years of covering tech stocks on the Street we view this quarter as one of top debacles we have ever seen while Musk & Co. in an episode out of the Twilight Zone act as if demand and profitability will magically return to the Tesla story." He called management's outlook "aggressive" while arguing that the company " is not taking aggressive enough cost cutting actions and shutting down future endeavors to preserve capital and give a sustained path to profitability for the Street." Ives lowered his price target on shares to $275 from $365. The stock has fallen 22% so far this year, as the S&P 500 has gained 17%.
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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