News Highlights: Top Company News of the Day
June 25 2019 - 05:15PM
Dow Jones News
Behind Spate of Drug Deals, the Need for Short-Term Growth
Pricing pressures and patent expirations for top-selling drugs
are opening up opportunities for pharmaceutical companies to make
major deals at relatively bargain prices.
Justice Department Investigates Chicken Industry
The Department of Justice is pursuing a criminal investigation
into the U.S. chicken industry, following allegations of price
collusion among top poultry processors. Meat producers have denied
engaging in anticompetitive conduct.
Micron Beats Targets Despite Weaker Profit, Revenue
Micron Technology reported weaker revenue for its third quarter
as it grapples with a downturn in memory-chip sales, but the
decline wasn't as bad as Wall Street had anticipated. Shares rose
in after-hours trading.
Consortium of Tech Firms Sets AI Benchmarks
A consortium of tech companies, including Facebook and Google,
has released a set of benchmarks for evaluating the performance of
artificial-intelligence tools, aiming to help businesses navigate
the fast-growing field.
PG&E Bondholders Propose $30 Billion Turnaround Plan
PG&E Corp. bondholders have challenged the California
utility over control of its bankruptcy proceeding, offering Wall
Street's version of a solution to wildfire liabilities that are
estimated at $30 billion or more.
Ex-UBS Compliance Officer and Day Trader Found Guilty of Insider Trading
A U.K. jury convicted a former UBS AG compliance officer and a
wealthy trader of insider trading.
Lennar Shares Drop After Warnings About Higher Costs
Shares of Lennar slid more than 6% after a top company executive
warned a labor shortage and trade tariffs on goods from China were
concerns for the largest U.S. homebuilder.
Mitsubishi to Acquire Bombardier's Regional Jet Unit
Mitsubishi said it would acquire Bombardier's regional-jet
business for $550 million in a transaction that puts the companies
on different paths in the aviation sector.
YouTube Content for Children Should Be Barred, Advocacy Groups Tell FTC
Two privacy-advocacy groups are calling on the FTC to remove
from YouTube all content aimed at children and to impose tens of
billions in fines.
GE Reaches Labor Deal With Union Leaders
General Electric reached a tentative four-year agreement with a
group of unions after a few weeks of negotiations, keeping a labor
peace as the conglomerate restructures operations.
(END) Dow Jones Newswires
June 25, 2019 17:00 ET (21:00 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.