Business

Lyft Inc received some badly needed support on Tuesday, as analysts at banks that had worked on its initial public offering urged clients to buy the ride-hailing company's beleaguered shares. Following the required 25-day wait for deal underwriters to issue an investment opinion following an IPO, at least 10 of the banks that brought Lyft public gave positive recommendations on a stock that has slumped 30 percent from its opening price on March 29, its first day of trading.

EBay Inc beat Wall Street estimates for quarterly revenue on Tuesday, as the company's multi-year effort to make its ecommerce platforms more user friendly attracted more customers.

Alphabet Inc's Wing Aviation unit on Tuesday got the okay to start delivering goods by drone in Virginia later this year, making the sister unit of search engine Google the first company to get U.S. air carrier certification, the Federal Aviation Administration said.

A former engineer and a Chinese businessman have been charged with economic espionage and conspiring to steal trade secrets from General Electric Co to benefit China, according to an indictment unsealed by the U.S. Justice Department on Tuesday.

Chipmaker Texas Instruments reported better-than-expected first-quarter revenue on Tuesday, sending its shares up 5 percent after the bell.

Wells Fargo & Co shareholders voted to elect all of the company-nominated directors during a rowdy meeting on Tuesday in which more than a dozen attendees were kicked out for heckling executives and board members.