News Highlights: Top Company News of the Day
May 20 2019 - 1:30PM
Dow Jones News
Tesla Stock Hits One-Year Low
Tesla's stock dropped 5%, highlighting the electric car maker's
challenges including its balance sheet and Model 3 vehicle
demand.
T-Mobile, Sprint Get Merger Backing From FCC Chairman
FCC Chairman Ajit Pai said he would back the more than $26
billion combination of cellphone carriers T-Mobile US and Sprint
after the companies agreed to a package of concessions.
Ford to Eliminate 7,000 Jobs
Ford Motor said it is cutting 7,000 salaried employees, or about
10% of its white-collar workforce, as part of Chief Executive Jim
Hackett's broader plan to revitalize the auto maker.
Deutsche Bank Shares Hit All-Time Low
Deutsche Bank's shares traded at an all-time low as officials
braced themselves for a barrage of criticism from shareholders at
the bank's annual meeting Thursday in Frankfurt.
Toshiba Memory to Buy Out Shares From Apple, Dell
Apple, Dell and two other U.S. technology companies are set to
give up their preferred shares in the Japanese chip maker for more
than $4 billion under a refinancing plan.
Dish Network Buys EchoStar Broadcast Satellite Business
Dish Network said it would acquire parts of satellite-operations
company EchoStar in an all-stock deal valued at about $800
million.
Google Bans Huawei Phones From Some Android Services
Huawei has begun to feel the effects of U.S. moves to curb its
access to U.S. technology as Google cut access to some Android
services on Huawei smartphones.
Morgan Stanley Buys Stake in French Asset Manager Tikehau Capital
A unit of the U.S. investment bank, alongside existing
shareholders, will invest at least EUR300 million ($334.9 million)
of fresh equity into the Paris-based asset manager.
Ryanair Warns Boeing 737 MAX Grounding Will Hurt Profit
Ryanair, Europe's biggest budget airline and the region's
largest customer for Boeing Co.'s 737 MAX jets, warned profit would
be dented this year by the plane's global grounding.
Bayer's Roundup Problem Slashes Its Market Value
Investors worry that Bayer's liabilities from Monsanto's
allegedly carcinogenic weedkiller Roundup are only going to rise,
pushing shares into a downward spiral.
(END) Dow Jones Newswires
May 20, 2019 13:15 ET (17:15 GMT)
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