News Highlights: Top Company News of the Day
September 16 2019 - 3:30PM
Dow Jones News
UAW Strike Could Cost General Motors $100 Million a Day
With no vehicles being built, the walkout involving roughly
46,000 full-time workers could dent GM's profit by $50 million to
$100 million daily, analysts say.
Amazon Changed Search Algorithm in Ways That Boost Its Own Products
The e-commerce giant overcame internal dissent from engineers
and lawyers, people familiar with the move say. The previously
undisclosed change, which could help other products, too, risks
further antitrust scrutiny.
Netflix Reaches Streaming Deal for 'Seinfeld'
Netflix has struck a five-year deal to become the exclusive
world-wide streaming home of 'Seinfeld,' the hit NBC comedy from
the 1990s.
Saudi Officials Consider Delaying Aramco IPO After Attacks
Saudi Arabian officials are discussing delaying Aramco's initial
public offering, after attacks on the company's largest oil
facilities sidelined more than half of the kingdom's output, people
familiar with the matter said.
Ray-Ban Investors Should Look Beyond the Optics
EssilorLuxottica's top shareholder and activist investor Third
Point are both building stakes in the eyewear giant, setting up a
fresh governance battle.
Energy Transfer to Buy SemGroup
Energy Transfer LP said it will buy SemGroup in a unit and cash
transaction valued at $17 a share, or a total consideration
including the assumption of debt of $5 billion. SemGroup's shares
soared on the news.
New Relic Shares Fall as Company Lowers Outlook, Shakes Up Executive Ranks
Shares of the cloud-software company plunged after it cut its
yearly revenue outlook and said two top executives are
departing.
Frontier to Make Debt Payments, Soothing Bankruptcy Fears
Frontier Communications Corp. on Monday was set to make roughly
$320 million of debt payments, at least temporarily easing fears of
a near-term bankruptcy filing for the wireline telecom company.
Endeavor Group Could Raise $712 Million in IPO
Endeavor Group plans to raise as much as $712.3 million in its
initial public offering, the entertainment company said.
OxyContin Maker Purdue Pharma Files for Bankruptcy
Purdue Pharma filed for bankruptcy protection with a partial
deal aimed at resolving thousands of lawsuits filed by states and
local municipalities accusing it of fueling the opioid crisis.
(END) Dow Jones Newswires
September 16, 2019 15:15 ET (19:15 GMT)
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