News Highlights: Top Company News of the Day
October 23 2019 - 9:30AM
Dow Jones News
Boeing to Cut 787 Production
Boeing said its profits more than halved in the latest quarter
and plans to cut production of its 787 Dreamliner jet next year,
but still expects the 737 MAX to return to service by the end of
the year
Caterpillar Lowers Profit Outlook
Caterpillar cut its profit forecast for the year, saying that
global economic uncertainty is prompting customers to hold off on
big purchases.
Blackstone Profit Climbs as Private-Equity Holdings Gain Steam
Blackstone Group's third-quarter profit rose from a year earlier
as gains in its private-equity holdings outpaced the broader
market, but the portion of earnings that could be returned to
shareholders fell.
SoftBank, WeWork and Sunk Costs
SoftBank, one of the world's largest and supposedly savviest
investment firms, looks like it is making a classic rookie error by
succumbing to the sunk cost fallacy in its latest investment into
WeWork.
General Dynamics' Aerospace Business Aids 3Q
General Dynamics said profit rose 7% in the third quarter, as
the company reported strong revenue gains in its aerospace
business
Infosys Grapples With Whistleblower Complaints in the U.S. and India
Whistleblower complaints roiling Infosys, one of India's biggest
outsourcing companies, come at a bad time for an industry that is
already struggling to boost growth.
Huawei to Begin Selling Folding Smartphone After Monthslong Delay
Huawei Technologies will begin selling its first-ever foldable
smartphone in China next month, hoping that consumers will continue
to be drawn to the high-end device despite months of delays.
Tesla Headed for Another Quarterly Loss
Electric vehicle maker Tesla will release earnings after the
market closes. Its sales are expected to slide, as the number of
high-end Model S sedans and Model X SUVs sold has fallen.
Amazon.com Rests Less Easily on Its Cloud
An AWS target miss and the Capital One hack have punished the
highflying stock since its latest report.
Bedding Brand Brooklinen Pulls Other Marketers Into New Online Store
The Brooklyn, N.Y.-based startup is introducing "Spaces by
Brooklinen," a digital store featuring three themed rooms stocked
with Brooklinen wares plus more than 100 products from 12 outside
brands, including furniture maker Floyd Inc., art book publisher
Taschen GmbH and boutique watch and clock retailer Newgate
World.
(END) Dow Jones Newswires
October 23, 2019 09:15 ET (13:15 GMT)
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