By Francesca Fontana 

FedEx Corp.

No one is delivering holiday cheer to FedEx. The delivery giant Tuesday cut its earnings targets for the fourth time in 2019. Shares fell 10% the next day, highlighting investor concerns about the company's ability to adapt as more of its business shifts to delivering less-profitable e-commerce packages to homes. Meanwhile, Amazon.com Inc. announced this week that it has blocked third-party sellers from using FedEx's ground delivery network for Prime shipments.

Bed Bath & Beyond Inc.

The executive suite at Bed Bath & Beyond will be a lot emptier during this holiday season. A half-dozen top executives are leaving in an unusual shakeup for the struggling home goods retailer. Chief Executive Mark Tritton said Tuesday that five executives would leave their roles, including the heads of merchandising, marketing, digital and legal. In addition, the chief brand officer resigned last week, he said. Earlier this year, Bed Bath & Beyond replaced several directors, including the chain's co-founders, amid pressure from activist investors, and has been conducting a strategic review of its portfolio of roughly 1,500 stores. Shares rose 11% Tuesday.

Netflix Inc.

Netflix is trying to sell Wall Street on what it hopes will be its next blockbuster: overseas sales. The company's subscription growth in the U.S. has begun to slow, and it is set to face greater competition as new streaming rivals come online. The region of Europe, the Middle East and Africa has more than doubled in subscribers since the start of 2017, and is the largest non-U.S. region, Netflix data shows. Netflix released new subscriber growth metrics late Monday in an effort to persuade Wall Street to focus more on its growth outside of the U.S. Latin America has also posted sharp growth, while Asia is promising but still a small portion of the overall business. Netflix shares gained 3.7% Tuesday.

Uber Technologies Inc.

Uber might drop off its food-delivery business in India to a local rival. The Wall Street Journal reported Monday that the sale would be a potential boost for the American company as Chief Executive Dara Khosrowshahi seeks a path to profitability. A deal would see the San Francisco-based company unload the costly Indian operations of its global food-delivery arm, Uber Eats, to competitor Zomato Media Pvt. Ltd., the people said. Mr. Khosrowshahi is trying to improve the unprofitable company's finances. Uber's shares have fallen about a third from the initial-public-offering price of $45. Shares gained 5.5% Monday.

General Mills

Pets are adorable. Even more so for shareholders of General Mills, where sales of the Blue Buffalo pet food that General Mills acquired last year rose 16% in the company's latest quarter. Pet food is helping the Minneapolis-based food maker make up for weaker snack bar and yogurt sales. The owner of Cheerios and Betty Crocker has been weighed down by brands that are outdated or facing tougher competition from generic products. Diversifying into businesses such as pet food is helping General Mills offset laggards like baking mixes and Yoplait yogurt. General Mills shares gained 1.9% Wednesday.

Facebook Inc.

Facebook is choosing a giant stage for its next message to consumers: the Super Bowl. The embattled social media giant has bought time for a 60-second ad featuring Chris Rock and Sylvester Stallone to promote its Groups feature, the company said late Wednesday. Facebook has been seeking to improve the appeal of its platform, partly through a campaign themed "More Together" that positions Groups as a way for people to connect with like-minded users. It's part of a larger increase in global ad spending by Facebook in a bid to rebuild trust and positive consumer sentiment after a series of controversies over privacy practices and misinformation on its platform. Facebook shares gained 1.8% Thursday.

IAC/Interactive Corp.

The media and internet holding company wants to get into the family-care business. IAC/InterActive Group agreed Friday to buy Care.com for about $500 million in cash. Care.com is the nation's largest online marketplace for babysitters and other caregivers, with about 35 million members in over 20 countries. A March investigation by The Wall Street Journal showed that it largely left it up to families to determine whether a caregiving listed on Care.com was trustworthy. IAC/InterActive expects to close the transaction in the first quarter of 2020 and name one of its own executives as CEO. Its shares gained 3.1% Friday.

Write to Francesca Fontana at francesca.fontana@wsj.com

 

(END) Dow Jones Newswires

December 20, 2019 18:49 ET (23:49 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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