News Highlights: Top Company News of the Day
August 16 2017 - 5:15PM
Dow Jones News
Prosecutors Allege Insider Trading Involving Former Bank of America IT Worker
Prosecutors have filed criminal charges against several people
in an insider-trading scheme in which a former Bank of America
employee is alleged to have tipped several friends about pending
corporate mergers.
Cisco Predicts Another Drop In Sales
Shares of Cisco Systems fell more than 1% in after-hours trading
after the networking company reported fiscal fourth-quarter revenue
and adjusted earnings in line with expectations but predicted
another drop in revenue in the next quarter.
Apple Readies $1 Billion War Chest for Hollywood Programming
Apple Inc. has set a budget of roughly $1 billion to procure and
produce original content over the next year, as the iPhone maker
shows how serious it is about making a splash in Hollywood.
Judge Temporarily Shields Car Makers From Some Air-Bag Lawsuits
A bankruptcy judge issued a temporary stay shielding Honda,
Toyota, Subaru and other automobile manufacturers from many
lawsuits over defective air bags made by Takata.
Target's Lower Prices Pay Off as Sales Rise
Customers spent more at Target in its most recent quarter, as
the retailer embarked on a plan to refresh its interiors and cut
prices. The retailer also raised its profit outlook for the fiscal
year.
MoviePass Says Success Will Bring Cooperation
Digital ticketing company MoviePass said it plans to quickly
amass subscribers and use the resulting market power to convince
the film industry to work with it.
UnitedHealth Names David Wichmann as New CEO
UnitedHealth Group said its current president, David Wichmann,
will next month succeed Stephen Hemsley as chief executive, a
widely expected transition at the top of the nation's largest
health insurer.
White House: Health-Insurer Payments Will Be Made in August
The Trump administration said the federal government would make
a set of payments to insurers for August, despite threats from the
president that the funding would be halted.
Uber Shareholders Fight for Control Amid Leadership Vacuum
The acrimony among Uber's investors spilled further into view
with a new letter from one shareholder alleging underhand tactics
by Benchmark Capital.
Tech Firms Ban White Supremacists, Shifting From Hands-Off Policy
Recent moves by tech companies including Alphabet Inc.'s Google,
GoDaddy, Uber and GoFundMe to crack down on white supremacists
thrust them into unusual territory for corporations that often take
a more hands-off approach to who uses their services and how.
(END) Dow Jones Newswires
August 16, 2017 17:00 ET (21:00 GMT)
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