News Highlights: Top Company News of the Day
October 17 2019 - 1:15PM
Dow Jones News
Trading, Tax Benefit Lift Morgan Stanley Profit
Morgan Stanley's third-quarter profit rose 3% from a year ago,
the last major U.S. bank to skate through a period of global
tensions and shifting markets.
Pentagon Awards Patriot Radar Deal to Raytheon
The Pentagon awarded Raytheon a contract valued by analysts at
up to $5 billion to build a new radar for the Patriot missile
defense system, concluding one of the year's most closely watched
weapons contests.
Nestlé to Refresh Bottled-Water Business as Sales Turn Flat
The world's biggest bottled-water maker is overhauling that
business as the industry navigates big consumer shifts-from the
rise of sparkling water to a backlash against single-use
plastic.
Renault Cuts 2019 Guidance on Unfavorable Economic Environment
Renault cut its revenue and operating margin guidance for the
year, citing an unfavorable economic environment.
Shampoo Giants Go Head to Head
Unilever-the maker of Dove and TRESemmé-is engaged in a shampoo
war with Pantene owner Procter & Gamble, cutting prices in the
U.S. as it aims to gain market share.
Union Pacific Plans More Job Cuts as Demand Falls Off
Union Pacific said it would continue cutting jobs as slower
economic growth hampers demand for railroad shipments and as it
works to boost productivity.
PPG Reports Slightly Higher Sales
PPG's sales inched higher in its latest quarter, as higher
prices helped offset lower sales volume for the Pittsburgh-based
paint maker.
Honeywell Sales Miss Expectations
Industrial conglomerate Honeywell International reported a lower
profit for the third quarter and overall sales that fell a bit
lower than what Wall Street analysts predicted.
Pernod Ricard Sales Growth 'Moderate'
Pernod Ricard said organic sales grew 1.3% during the first
quarter and confirmed that profit from recurring operations should
hit its 5%-7% target in 2020.
Ericsson Boosted by 5G Expansion
Ericsson lifted its sales and margin targets after posting
strong momentum in its business as operators in the U.S. and North
East Asia forge ahead with their 5G network spending.
(END) Dow Jones Newswires
October 17, 2019 13:00 ET (17:00 GMT)
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