News Highlights: Top Company News of the Day

Date : 10/17/2019 @ 9:15AM
Source : Dow Jones News

News Highlights: Top Company News of the Day

Nestlé to Refresh Bottled-Water Business as Sales Turn Flat 

Nestlé will overhaul its bottled-water arm, hoping to reinvigorate growth in a business hurt by rising competition, high costs and growing concerns about single-use plastic.

Unilever Cuts Prices as Shampoo Rivalry Grows 

Unilever said it was forced to lower prices in the U.S. to compete in the shampoo market with its rival Procter & Gamble, as the owner of Dove and TRESemmé reported slower third-quarter revenue growth compared with a year earlier.

Citigroup Names Peter Babej as CEO for Asia-Pacific Region 

Mr. Babej, previously the global head of the bank's financial institutions group, will transition into the role immediately, Citigroup said.

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.

BHP Output Down on Maintenance Work 

said production of commodities including iron ore, coal and petroleum fell 1% in the first quarter, mainly because of planned maintenance work.

Authentic Brands Teams With Saks to Bid for Barneys 

Barneys New York reached a deal to sell its assets to Authentic Brands Group and investment firm B. Riley Financial and close the luxury chain's remaining stores.

Alcoa Plans Up to $1 Billion in Asset Sales Amid Growth Fears 

The aluminum producer may close facilities over the next few years as it grapples with slowing economic growth.

IBM Earnings Fall in Prolonged Sales Slump 

IBM's profit fell 38% as it suffered its fifth consecutive quarter of lower sales.

Netflix Subscribers Fall Slightly Short of Expectations 

Netflix missed its subscriber target for the second consecutive quarter, raising questions about the company's ability to fend off competition from traditional media giants who are entering the market with rival services.


(END) Dow Jones Newswires

October 17, 2019 05:00 ET (09:00 GMT)

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

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