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 The U.S. could ease harsh measures taken against Huawei Technologies Co. as part of a wider trade deal with China, President Donald Trump suggested Thursday, Reuters reported. Last week, the Trump administration effectively banned U.S. companies from dealing with the Chinese tech giant over concerns that its telecom equipment poses a national security threat, though some companies were to get a 90-day window before the ban begins. Speaking about a possible trade deal Thursday at the White House, Trump said: "If we made a deal, I could imagine Huawei being possibly included in some form or some part of it," according to Reuters, though he said the company was "very dangerous" from a security standpoint. There had been speculation that the action against Huawei was, at least in part, a bargaining chip to be used in future negotiations. There are no new trade talks scheduled, but Chinese officials have said they're open to resuming negotiations, and Trump on Thursday again predicted a quick end to the yearlong trade war.
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DXC Technology Co. shares rose nearly 5% in the extended session Thursday after the company beat earnings estimates and raised its dividend. The company reported fiscal fourth-quarter net income of $271 million, or $1.01 a share, compared with $560 million, or $1.93 a share, in the year-ago period. Adjusted for items such as amortization of intangible assets and pension and other benefit actuarial and settlement losses, earnings were $2.19 a share. Revenue fell to $5.28 billion from $5.58 billion in the year-ago period. Analysts surveyed by FactSet had estimated adjusted earnings of $2.09 a share on revenue of $5.31 billion. For the fiscal first quarter, analysts model adjusted earnings of $2.20 a share on sales of $5.14 billion. DXC said that it was also raising its dividend to 21 cents a share. DXC stock has fallen 40% in the past year, with the S&P 500 index rising 4.5%.
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Trade war concerns over 7 days to May 22 takes losing streak to five consecutive weeks
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Shares of Autodesk Inc. fell more than 6% in the extended session Thursday after the software company reported a surprise first-quarter loss and revenue that fell short of Wall Street views. Autodesk said it lost $24 million, or 11 cents a share, in the quarter, compared with a loss of $82 million, or 38 cents a share, in the year-ago period. Adjusted for one-time items, the company earned 45 cents a share, compared with 6 cents a share a year ago. Revenue rose 31% to $735 million, the company said. Analysts polled by FactSet had expected GAAP profit of 12 cents a share on sales of $741 million. Autodesk shares had ended the regular trading day down 2.6%.
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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