News Highlights: Top Company News of the Day
October 23 2019 - 3:30PM
Dow Jones News
Medicare Funding Weighs on Eli Lilly's Revenue
Eli Lilly & Co. posted a lower-than-expected revenue for the
latest quarter as the company provided more funding for seniors
through a Medicare plan under a change in federal law that took
effect this year.
Walmart Rushes Out Holiday Deals-a Week Before Halloween
The retailer will start advertising holiday discounts online
this week, as retailers brace for a shorter shopping season between
Thanksgiving and Christmas this year.
Google Sweetens Search-Engine Remedy After EU Pressure
Alphabet Inc.'s Google has bowed to pressure from European Union
antitrust chief Margrethe Vestager in offering better terms to
rival search engines that want to appear on Android phones under a
$4.8 billion antitrust decision against the tech giant.
Private-Equity Firm Bristol Capital Advisors Wins Auction for Sugarfina
Private-equity firm Bristol Capital Advisors has won an auction
to purchase boutique candy retailer Sugarfina out of
bankruptcy.
Boeing Cash Squeezed Awaiting 737 MAX Approval
Boeing still hopes to secure regulatory approval this year for
the return of its 737 MAX jetliner, but the company faces a cash
squeeze as airlines stop payments and China holds off buying more
planes because of a continuing trade spat with the U.S.
Anthem Lifts Profit Target
Anthem Inc. posted higher third-quarter profits and increased
its earnings guidance for this year, but a key spending metric came
in higher than expected due to continued pressure in its Medicaid
business.
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.
CEO Schwarzman Defends Blackstone as Firm's Profit Climbs
The private-equity industry has absorbed criticism from
politicians as presidential campaigns heat up.
Texas Instruments Scales Back Its Outlook
Texas Instruments said to expect fourth-quarter revenue and
earnings per share to come in well below analysts' estimates.
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.
(END) Dow Jones Newswires
October 23, 2019 15:15 ET (19:15 GMT)
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