Reuters

Lyft Inc on Wednesday posted higher-than-expected revenue and the ride-hailing company vowed further cost cuts to become profitable, saying ridership hit by the coronavirus pandemic had improved in late April.

PayPal Holdings Inc said it expects a strong recovery in payments volumes in the second quarter as social distancing drives more people to shop online, even as lockdowns start to ease, sending its shares up 8% in extended trading.

Peloton Interactive Inc raised its forecast for full-year revenue on Wednesday as "stay at home" orders led to a surge in sales of the company's exercise bikes and fitness subscriptions, sending its shares up 5%.

The United States told the World Trade Organization on Wednesday there was "no valid basis" for the European Union to retaliate against U.S. goods since it has fully complied with WTO findings that Washington state's now-repealed tax breaks for Boeing were illegal.

The S&P 500 and the Dow fell on Wednesday as declines in financials and defensive groups countered gains in tech shares and as data showed U.S. private employers laid off 20 million workers in April, underscoring the economic fallout of the coronavirus outbreak.

Peloton Interactive Inc raised its forecast for full-year revenue on Wednesday as "stay at home" orders encouraged more people to buy the company's exercise bikes and fitness subscriptions plans.

Exercise bike maker Peloton Interactive Inc raised its forecast for full-year revenue on Wednesday, as "stay at home" orders due to the COVID-19 pandemic encouraged more people to sign up for its fitness subscriptions.

PayPal Holdings Inc posted a 87.4% slump in quarterly profit on Wednesday as COVID-19 lockdowns hit consumer spending and forced the payments processor to boost its credit loss reserves, sending its shares down 3.7% in extended trading.

Lyft Inc on Wednesday surprised investors with higher-than-expected revenue and the ride-hailing company vowed further cost cuts to become profitable as the U.S. coronavirus lockdown batters the economy.

T-Mobile US Inc added more monthly bill paying phone subscribers than expected in the first quarter, thanks to cheaper plans compared to its rivals and a surge in demand for phone services as people work from home amid lockdowns.

Fox Corp beat Wall Street estimates for third-quarter revenue and profit on Wednesday as Super Bowl broadcast boosted television viewership, sending the company's shares up more than 2% in extended trading.

Oil prices slid and world equity markets seesawed on Wednesday as investor hopes for a pickup in business activity were dashed by downbeat economic data and a rise in U.S. crude stockpiles to three-year highs that highlighted low fuel demand.

The S&P 500 and the Dow fell on Wednesday after U.S. President Donald Trump cast doubt on a trade deal with China and data showed U.S. private employers laid off 20 million workers in April, underscoring the economic fallout of the coronavirus outbreak.

Fox Corp beat Wall Street estimates for third-quarter revenue on Wednesday, as the media company benefited from a rise in television viewership with people staying at home due to the coronavirus pandemic.

Lyft Inc on Wednesday surprised investors with higher-than-expected revenue and the ride-hailing company vowed further cost cuts to become profitable as the U.S. coronavirus lockdown batters the economy.

The New York Times Co crossed five million digital subscribers, adding a record number and withstanding a heavy drop in ad revenue in the first quarter that was dominated by heavy news coverage around the COVID-19 pandemic.

Big gains in small caps stocks are fueling hopes that a bounce in broader equity markets may stick, as investors ponder how quickly the U.S. economy can emerge from its coronavirus-fueled slowdown.

The coronavirus pandemic brought the U.S. auto industry to its knees, but Americans' love affair with beefy pickup trucks is helping the Detroit automakers get on the road to recovery.

The benchmark S&P 500 rose modestly on Wednesday, with gains in technology shares offsetting declines in financials and defensive groups as data showing U.S. private employers laid off 20 million workers in April underscored the economic fallout of the coronavirus outbreak.

Uber Technologies Inc will cut about 3,700 full-time jobs and Chief Executive Officer Dara Khosrowshahi will forgo his base salary for the remainder of the year, the company said on Wednesday, as the COVID-19 pandemic decimates ride-hailing businesses.