News Highlights: Top Company News of the Day
February 21 2017 - 7:15PM
Dow Jones News
Carl Icahn Takes Stake in Bristol-Myers
Carl Icahn has taken a stake in Bristol-Myers Squibb Co., making
him the second big activist to pressure the company following
disappointment in its cancer-treatment efforts.
Saudi Aramco Picks J.P. Morgan, HSBC, Morgan Stanley as IPO Underwriters
Saudi Arabia's state-owned energy company has told J.P. Morgan,
HSBC and Morgan Stanley they will be the lead underwriters for its
planned initial public offering, set to be the largest ever,
according to people familiar with the matter.
Why Verizon Decided to Stick With Yahoo Deal
Verizon shaved the price it will pay for Yahoo's core business
but is pushing ahead with the deal, in a bet that the chance to
expand into digital advertising trumps the risk of further fallout
from massive data breaches at the struggling internet pioneer.
Wells Fargo Fires Four Executives Following Probe of Sales Practices
Wells Fargo & Co. said Tuesday that four executives were
fired for cause related to its sales-practices scandal based on its
board's independent investigation.
Wal-Mart Posts Strong Holiday Sales
Wal-Mart reported strong sales over the winter holiday season, a
marked contrast with the weak numbers posted by many
brick-and-mortar competitors including Target and Macy's.
Owner of Burger King and Tim Hortons to Buy Popeyes
Restaurant Brands, the owner of Burger King and Tim Hortons,
said it would buy Popeyes Louisiana Kitchen for about $1.64
billion. Executives said they see huge growth potential for Popeyes
in Asia.
Starboard Takes 6.6% Stake in Tribune Media
Hedge fund Starboard Value LP has opened a 6.6% stake in Tribune
Media Co. but has no immediate plans to push for change.
Snap Kicks Off Pre-IPO Roadshow for Potential Investors
Hundreds of potential investors crowded a ballroom of New York's
Mandarin Oriental on Tuesday to grill Snap Inc. executives about
how they're going to turn their popular disappearing-message app
into a moneymaking machine.
Macy's Profit Tops Views Despite Stumbling Sales
Macy's said revenue will continue to decline this year as it
works on ways to improve sales and draw in more customers who are
increasingly using the internet to plan and make their
purchases.
Peugeot CEO Talks With Merkel About Possible Opel Takeover
Carlos Tavares pledged to keep Opel's management independence in
a conversation with German chancellor.
(END) Dow Jones Newswires
February 21, 2017 19:00 ET (00:00 GMT)
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