News Highlights: Top Company News of the Day
May 22 2019 - 1:30PM
Dow Jones News
Qualcomm Shares Hit by Ruling on Antitrust Violation
Qualcomm unlawfully suppressed competition in the market for
cellphone chips and used its dominant position to exact excessive
licensing fees, a judge ruled in a decision that could shake up the
smartphone industry. Qualcomm shares fell more than 10%.
Nascar Founding Family Strikes Deal to Take Speedway Operator Private
The company that owns Nascar auto-racing venues has agreed to go
private, an effort by the family that has long controlled and
promoted the motor sport to better position it amid heightened
competition for fans.
Lowe's Cuts Outlook as Profit Gets Squeezed
Sales growth at Lowe's outpaced rival Home Depot for the first
time since 2016, but margins fell more than expected and the
home-improvement retailer trimmed its profit expectations for the
year.
Deutsche Bank Finds Flaw in System That Tracks Suspicious Activity
Deutsche Bank found a glitch in computer systems that
retroactively scan corporate clients' transactions for suspicious
activity, a sign of trouble in efforts to guard against potential
money laundering by clients.
Target Sales Boosted by Store Remodels, Digital Shift
Target said sales and profit rose at the start of the year, as
improvements to its stores, products and digital capabilities
attracted more shoppers.
Avon Nears Sale to Brazil's Natura Cosmeticos
Avon Products is close to a sale to Brazil's Natura Cosmeticos
in a deal that would mark the end of the independence of a
20th-century business icon.
Huawei Feels U.S. Squeeze in U.K., Japan as Partners Curb Business
Chip designer Arm is suspending business with Huawei and major
mobile-phone carriers in Japan and the U.K. are holding off on new
Huawei phones in the face of U.S. restrictions on the Chinese
company.
Wynn Resorts, MGM Resorts End Talks Over Boston-Area Casino
Wynn Resorts said it was ending talks with MGM Resorts
International to sell its Encore Boston Harbor property. MGM would
have had to unload a property it opened in Massachusetts last
year.
UPS Reaches Large Renewable Natural Gas Deal With Clean Energy Fuels
United Parcel Service said it will buy 170 million gallon
equivalents of renewable natural gas over seven years from Clean
Energy Fuels as it works to increase alternative fuel
consumption.
China's Mobile-Payment Giants Come Under Fire in Nepal
The Himalayan nation dealt a blow to Chinese payment platforms
that have been aggressively expanding abroad, restricting them
after finding that some transactions they facilitated flouted its
laws.
(END) Dow Jones Newswires
May 22, 2019 13:15 ET (17:15 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.