News Highlights: Top Company News of the Day
November 15 2018 - 11:30AM
Dow Jones News
FDA Seeks Ban on Menthol Cigarettes
The Food and Drug Administration said it would seek a ban on
menthol-flavored cigarettes. The cigarette industry says it may
fight such a measure in the courts.
J.C. Penney's Revenue, Comparable Sales Fall
J.C. Penney's comparable-store sales in the latest quarter came
in significantly lower than analysts' estimates and the retailer
said it is withdrawing its earnings guidance for the year.
Dell Sweetens Tracking-Stock Deal After Facing Shareholder Pressure
Dell confirmed it is raising its offer to buy out an affiliate,
a move that comes after the company faced pressure from large
investors to sweeten the bid.
Walmart Posts Strong Sales Gains Ahead of Holidays
Walmart posted higher quarterly sales, continuing a run of solid
growth as the world's largest retailer taps into online shopping
and a robust U.S. economy ahead of the busy holiday season.
Activist Investor Gets Important Backing in Campbell Soup Fight
Institutional Shareholder Services is recommending that Campbell
shareholders vote for all five of activist hedge fund Third Point's
director nominees.
Berkshire Now Has a $4 Billion Stake in Largest U.S. Bank
Warren Buffett's Berkshire Hathaway took a $4 billion stake in
JPMorgan Chase & Co. in the third quarter, adding to a list of
other large holdings in major American financial institutions.
GE Credit Crunch Ripples Across Wall Street
A steep fall in GE's bonds to junk levels is roiling credit
markets, spreading pain and gain among investors and banks.
Tencent Stock Rallies on Strong Earnings
Tencent stock closed 5.8% higher after the Chinese tech giant
reported a 30% rise in profit, more than analysts expected. The
boost still leaves the company's Hong Kong-listed shares down
nearly 30% in 2018.
Steve Wynn Seeks to Stop Release of Massachusetts Investigation
Steve Wynn is asking a Nevada state court to stop Massachusetts
gambling regulators from releasing a report on their investigation
into sexual-misconduct allegations against the former casino
mogul.
California's Largest Utility Pummeled by Wildfire Risks
California's largest utility suffered its steepest stock plunge
in 16 years Wednesday as concerns grew that potential liability
costs from destructive wildfires threaten the company's financial
future.
(END) Dow Jones Newswires
November 15, 2018 11:15 ET (16:15 GMT)
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