News Highlights: Top Company News of the Day

Date : 05/23/2019 @ 12:30AM
Source : Dow Jones News

News Highlights: Top Company News of the Day

L Brands Lifts Outlook on Strength of Bath & Body Works 

Victoria's Secret owner L Brands raised its profit outlook for the year as the retailer beat overall sales targets in the latest quarter thanks to Bath & Body Works.

Natura to Buy Avon for $2 Billion 

Natura Cosmeticos said it has reached an agreement to buy Avon Products in an all-stock deal valued at about $2 billion.

PG&E Clings to Sole Control of Its Bankruptcy Through September 

PG&E will stay in control of its bankruptcy proceeding until Sept. 29, less time than it wanted, but long enough to find out what California lawmakers will do this year about wildfire liabilities facing the state's largest utility.

GE to Revisit Financial-Services Unit After Fixing Power Division 

Larry Culp, General Electric's chief executive, plans to set his sights on the company's problematic financial-services business after he cuts overall debt and stabilizes its power-generation division.

Huawei Executive Accused by U.S. Startup of Involvement in Trade-Secrets Theft 

CNEX Labs, a chip startup backed by Microsoft Corp. and Dell Technologies, has accused a senior executive at Huawei Technologies of participating in a conspiracy to steal its trade secrets, according to a court filing.

Qualcomm Shares Hit by Ruling on Antitrust Violation 

Qualcomm unlawfully suppressed competition in the market for cellphone chips and used its dominant position to exact excessive licensing fees, a judge ruled in a decision that could shake up the smartphone industry. Qualcomm shares fell more than 10%.

Nascar Founding Family Strikes Deal to Take Speedway Operator Private 

The company that owns Nascar auto-racing venues has agreed to go private, an effort by the family that has long controlled and promoted the motor sport to better position it amid heightened competition for fans.

Lowe's Cuts Outlook as Profit Gets Squeezed 

Lowe's outpaced rival Home Depot in sales growth for the first time since 2016, but margins fell more than expected and the home-improvement retailer trimmed its profit expectations for the year.

Deutsche Bank Finds Flaw in System That Tracks Suspicious Activity 

Deutsche Bank found a glitch in computer systems that retroactively scan corporate clients' transactions for suspicious activity, a sign of trouble in efforts to guard against potential money laundering by clients.

Target Sales Boosted by Store Remodels, Digital Shift 

Target said sales and profit rose at the start of the year, as improvements to its stores, products and digital capabilities attracted more shoppers.


(END) Dow Jones Newswires

May 22, 2019 19:15 ET (23:15 GMT)

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

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