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Volkswagen AG and Toyota Motor Corp said on Wednesday they will delay restarting U.S. production amid the coronavirus pandemic and concerns about the automotive supply network.

Tesla Inc on Wednesday posted its third quarterly profit in a row, but said the novel coronavirus was hurting deliveries and lockdown restrictions made it impossible for the electric carmaker to provide guidance for the full year.

Boeing Co said on Wednesday it would cut its 160,000-person workforce by about 10%, further reduce 787 Dreamliner production and try to boost liquidity as it prepares for a years-long industry recovery from the coronavirus pandemic that drove its second consecutive quarterly loss.

Qualcomm Inc on Wednesday forecast current-quarter revenue largely in line with expectations as it signed more contracts for 5G phones, which use higher-priced chips, at a time when the COVID-19 pandemic has disrupted production channels and led to a fall in demand for smartphones.

Austria might demand a stake in Lufthansa in exchange for granting emergency aid to the German flag carrier's unit Austrian Airlines, the country's conservative chancellor, Sebastian Kurz, said on Wednesday.

Facebook Inc beat analysts' estimates for quarterly revenue on Wednesday and said it has seen "signs of stability" for sales in April after a plunge in March, in yet another indication that tech giants may weather the coronavirus-induced economic collapse better than other sectors.

Tesla Inc on Wednesday posted its third quarterly profit in a row, but said the novel coronavirus was hurting deliveries and lockdown restrictions made it impossible for the electric carmaker to provide guidance for the full year.

EBay Inc forecast current-quarter revenue above Wall Street estimates on Wednesday, as the e-commerce company benefited from a surge in online orders with people staying indoors because of the COVID-19 pandemic.

Microsoft Corp reported quarterly revenue above Wall Street estimates on Wednesday, boosted by higher usage from its online app Teams collaboration and higher demand for the Windows operating system as millions shelter and work from home during the coronavirus pandemic.

Qualcomm Inc on Wednesday beat Wall Street estimates for quarterly results and forecast current-quarter sales largely in line with expectations even though several other chipmakers had flagged concerns of a significant hit from the coronavirus outbreak.

Tesla Inc on Wednesday beat analysts' estimates for first-quarter revenue and posted its third straight quarterly profit, as the electric carmaker recorded a solid number of deliveries during the period despite disruptions due to the coronavirus outbreak.

EBay Inc forecast current-quarter revenue above estimates on Wednesday, as the e-commerce company benefited from a surge in online orders from people staying indoors due to the COVID-19 pandemic.

Facebook Inc beat analysts' estimates for quarterly revenue on Wednesday, and said it has seen signs of stability in ad spending during the first three weeks of April.

World stock markets rose sharply on Wednesday following encouraging news for an experimental COVID-19 treatment and some positive earnings reports, while beaten-up oil prices soared.

Canadian pot producer Canopy Growth Corp said on Wednesday it would lay off 200 employees in North America and the UK, according to an internal announcement seen by Reuters.

Microsoft Corp reported quarterly revenue above Wall Street estimates on Wednesday, powered by another strong performance from its cloud service Azure as the coronavirus outbreak and home sheltering lead to more people working from home.

The U.S. economy contracted in the first quarter at its sharpest pace since the Great Recession as stringent measures to slow the spread of the novel coronavirus almost shut down the country, ending the longest expansion in the nation's history.

U.S. stocks surged on Wednesday as expectations of an effective COVID-19 treatment prompted a broad rally and helped investors shrug off bleak GDP data and words of warning from U.S. Federal Reserve Chair Jerome Powell.

The Federal Reserve on Wednesday left interest rates near zero and repeated a vow to use its "full range of tools" to shore up the U.S. economy amid an ongoing coronavirus pandemic that will not only slam growth in the near term but pose "considerable risks" in the medium term as well.

Chesapeake Energy Corp , the oil and gas exploration and production company that was at the forefront of the past decade's U.S. shale boom, is preparing a potential bankruptcy filing as it grapples with an unprecedented rout in energy prices, people familiar with the matter said on Wednesday.