Midday Report: 'Fantastic 4' Bombs 21st Century Fox; Shares Slip

A December rate hike is a live possibility, according to Federal Reserve Chair Janet Yellen. Yellen said the Fed could implement its first rate hike in nearly a decade next month if the economy continues to improve as the central bank expects. Stocks slid on Yellen's testimony before Congress. 21st Century Fox (FOXA) slid after a disappointing first quarter. The media giant saw sales at its film studio fall 28% on weak box office results for 'The Fantastic Four' and the loss of syndication revenue from its sale of TV show 'How I Met Your Mother.' Rival Time Warner (TWX) performed better in its recent quarter. Revenue jumped 5% driven by strong growth in its premium cable service HBO.