News Highlights: Top Company News of the Day

Date : 10/23/2019 @ 7:30PM
Source : Dow Jones News

News Highlights: Top Company News of the Day

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)

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

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