News Highlights: Top Company News of the Day
November 16 2018 - 5:15AM
Dow Jones News
Southwest Air Replaced Flight-Control Sensors of the Kind Implicated in Lion Air Crash
During the three weeks before Lion Air Flight 610 plunged into
waters off Indonesia, Southwest Airlines replaced two
malfunctioning flight-control sensors of the same type that has
been publicly implicated in the crash, according to a summary of
Southwest maintenance records reviewed by The Wall Street
Journal.
Post Holdings Plans IPO for Nutrition Unit
The transaction that involves PowerBar and Joint Juice brands is
expected to be completed in the second half of fiscal year
2019.
AXA to Raise $2 Billion From Shares Sale
AXA said it would raise up to $2 billion from the sale of shares
in its U.S. subsidiary AXA Equitable Holdings.
Rovio Swings to Profit, Narrows Guidance
Angry Birds maker Rovio posted a net profit of EUR7.9 million in
the third-quarter, more than double forecasts, and narrowed its
full-year guidance.
Inventory Reduction Push at J.C. Penney Thins Margins
The struggling retail chain has been liquidating merchandise as
it winnows its product assortment to focus on the most profitable
brands and categories. Although Penney is making progress on that
goal, efforts to clear the sales floor have also thinned
margins.
Firm Tied to Cryptocurrency Entrepreneur Faces SEC Investigation
The SEC is investigating a company's cryptocurrency sale, an
executive with the firm said, and people familiar with the probe
said it includes looking at whether a prominent bitcoin
entrepreneur broke the law by getting involved with the company's
fundraising.
Cryptocurrency Hangover Weighs on Nvidia
Nvidia shares tumbled 18% after the chip maker projected
declining revenue for the current quarter as it works through
excess inventory left over from the cryptocurrency boom.
MoviePass Sheds Subscribers as Troubles Mount
MoviePass experienced a significant decline in subscribers in
the third quarter, the latest sign of trouble for majority owner
Helios & Matheson Analytics.
Facebook Says Criticism of Its Russia Response Is 'Unfair'
Mark Zuckerberg and the Facebook board took issue with a report
suggesting the social-media giant deliberately played down the
impact of Russian interference on the platform.
David's Bridal Reaches Restructuring Deal With Lenders
Wedding gown retailer David's Bridal has reached a restructuring
deal with its lenders ahead of an expected bankruptcy filing.
(END) Dow Jones Newswires
November 16, 2018 05:00 ET (10:00 GMT)
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