Lyft on Wednesday released its earnings report for the third quarter, where it beat on both the top and bottom lines, as well as raised its revenue guidance for 2019. In a call with CNBC’s Deirdre Bosa, Lyft CFO Brian Roberts said the company is focused on achieving profitability. In addition to the better-than-expected results and brighter guidance, the company reported it had 22.3 million “active riders” on its platform in the third quarter, compared to consensus estimates of 22.1 million acti

Joe Biden’s presidential campaign, raising questions about Bernie Sanders’ “credibility,” ripped his 2020 rival for declining in a CNBC interview to say how he’d finance ‘Medicare For All.’ “When you’re running to take on the most dishonest president in American history,” Bedingfield added, “Senator Sanders and others who back Medicare for All have to preserve their credibility.” The Biden campaign was reacting to Sanders’ statement in a CNBC Speakeasy interview that he felt no need to spell out

Senator Kamala Harris (D-CA) speaks at the Iowa State Fair in Des Moines, Iowa, August 10, 2019. Kamala Harris’ 2020 presidential campaign will cut staff and spending at its headquarters in Maryland to focus its efforts on the first nominating state of Iowa. In a memo provided by the campaign and sent out to the California Democratic senator’s 2020 campaign staff, campaign manager Juan Rodriguez said he would “take a pay cut along with all consultants.” Harris’ support has lagged in both early s

House Democrats have asked President Donald Trump’s former national security advisor John Bolton to testify in their impeachment probe on Nov. 7, NBC News reported Wednesday. Bolton’s lawyer, Charles Cooper, responded to the House request for his testimony, telling NBC News: “Bolton is not willing to appear voluntarily.” The White House also did not immediately respond to a request for comment. It was not immediately clear if Eisenberg or Ellis would show up for their requested depositions — or

For Mega Millions — with winning jackpots ranging from $168 million to $522 million — winners’ cash options have totaled $1.06 billion. The 24% federal tax withholding totaled $254.3 million, reducing the collective take to $805.75 million. Powerball winners’ cash options also have totaled just over $1 billion, with jackpot amounts ranging from $80 million to $768.4 million. Of course, those lottery wins contribute just a drip in the federal tax bucket. Depending on where the ticket was purchase

“I don’t like the stock all that much here,” Newton said Wednesday on CNBC’s “Trading Nation.” “I don’t think it’s all that technically attractive and it’s had quite the run, up about 53% year to date.” Apple’s stock was trading just above the $242 level toward the end of Wednesday’s session. “We’re underweight growth stocks as well as tech stocks,” he said of his investment firm. “Global growth does matter for this sector, and this quarter, you’re seeing year-over-year revenue, year-over-year e

The former Trump administration official who wants to cancel student debt told CNBC on Wednesday that his plan to solve the loan crisis is “comprehensive, bold and, quite frankly, decisive.” Johnson’s resignation last week from the Department of Education turned heads because the Betsy DeVos appointee called for massive cancellation of student loan debt. Johnson spent time overseeing the nation’s nearly $1.6 trillion student loan portfolio, before leading an initiative to overhaul how the depart

Jens Schlueter | Getty ImagesDETROIT – From Daimler-Chrysler to Fiat Chrysler, the former American automaker Chrysler Corp. has gallivanted around the world to find partners to assist in its growth or help keep it afloat. The PSA board approved the merger and the Fiat Chrysler board is set to meet Wednesday, a person familiar with the deal told CNBC. The deal gives Peugeot six board seats and Fiat Chrysler five, according to the WSJ. Fiat Chrysler spokesman Niel Golightly said he had “nothing to

Facebook co-founder and CEO Mark Zuckerberg smiles at the conclusion of his testimony before the House Energy and Commerce Committee in the Rayburn House Office Building on Capitol Hill April 11, 2018, in Washington, DC. Facebook’s former chief privacy officer Chris Kelly has a few words for Warren about winning an antitrust battle against the social media company: “Good luck.” Kelly said the recently leaked audio from a Facebook employee meeting at which Mark Zuckerberg spoke about fighting ant

Apple now has $205.9 billion cash on hand, according to the company’s fiscal fourth-quarter 2019 earnings report released on Wednesday. That’s 2.2% less than last quarter, when it reported a cash pile of $210.6. Apple continues to host one of the largest cash piles of any U.S. company. The company is spending heavily to expand its offering of original content on the Apple TV+ streaming service and paying dividends to shareholders.

WASHINGTON — The Pentagon Wednesday released the first images and videos of last week’s U.S. military mission that lead to the death of ISIS leader Abu Bakr al-Baghdadi. “The operation was exquisitely planned and executed,” Marine Corps Gen. Ken McKenzie, commander of U.S. Central Command, said during a press briefing at the Pentagon. “We are under no illusions that ISIS is going to go away because we killed Baghdadi. Similarly, Secretary of Defense Mark Esper said Monday at the Pentagon that Ba

The Trump administration announced its plan to pull flavored nicotine pods off store shelves last month. Krishnamoorthi also urged the office to ensure the policy removes all non-tobacco flavors, including mint and menthol, from the market. He joins a growing chorus of lawmakers and public health advocates who are urging the Trump administration to keep its initial pledge. They cited data from an annual federal survey that showed mint and menthol was the second-most popular e-cigarette flavor be

Federal Reserve Chairman Jerome Powell indicated that future rate cuts are unlikely so long as conditions remain around where they are now. “We see the current stance of monetary policy as likely to remain appropriate as long as incoming information about the state of the economy remains broadly consistent with our outlook,” he told reporters at his post-meeting news conference. In his remarks to the media, Powell described monetary policy as being “in a good place” as “the baseline outlook rema

First of all, I think he’s doing 100% the right things,” said Rick Rieder, BlackRock’s global CIO of fixed income. The Fed cut its fed funds target rate Wednesday to 1.50% to 1.75% in its third quarter point rate cut in so many meetings. They’re not going to raise rates for a long time, which is what I think is the right call,” Rieder said. I’m okay taking risks, and I’m okay being in the pool because i know they’re going to put a blanket of support under it if they need to,” Rieder said. If the

Dow Jones Industrial Average rises 115 pointsThe Dow gained 115.27 points, or 0.43% to close at 27,186.83. Fed hits right noteThe Fed managed to walk a tight rope of keeping the door open to further rate cuts but raising the bar for further policy moves moving forward. This signaled a pause to Fed rate cuts. GE shares surge, Yum Brands crumblesGE shares surged more than 11% after the company posted earnings that topped analyst expectations. Yum Brands, meanwhile, dropped nearly 6% after posting

UnitedHealth Group’s Optum division has acquired patient-monitoring start-up Vivify Health, according to two people familiar with the deal. Vivify sits in the remote patient monitoring space, providing connected devices and other technologies to track at-risk patients at home. Instead, remote patient monitoring companies claim that they can intervene earlier, when a patient might need less costly support, such as an in-person visit from a nurse to their home. The global remote patient monitoring

Right as Facebook was set to report its third-quarter earnings on Wednesday, Twitter CEO Jack Dorsey announced his company would be banning political advertisements. But Facebook CEO Mark Zuckerberg didn’t take the bait. “I can assure you that from a business perspective, the controversy this creates far outweighs the very small percentage of our business that these political ads make up.” On the call, Zuckerberg said the company estimates ads from politicians will be less than 0.5% of its reven

Boeing CEO Muilenburg exits House testimony: ‘We know what we need to fix’Boeing CEO Dennis Muilenburg speaks with CNBC’s Phil Lebeau as he leaves Capitol Hill following a long day of testimony before a House committee.

McCulley: Powell did a fantastic jobPaul McCulley, former chief economist at PIMCO, joins CNBC’s “Closing Bell” to discuss the Fed’s quarter-point interest rate cut. With Jefferies’ David Zervos.

“We just touched 2% core inflation to pick one measure. “So I think we would need to see a really significant move up in inflation that’s persistent before we would consider raising rates to address inflation concerns.” The government’s most recent read on the PCE price index showed a 0.2% increase in July. Excluding the volatile food and energy components, the PCE price index edged up 0.1% last month after rising 0.2% in July. The core PCE index is the Fed’s preferred inflation measure and has