News Highlights: Top Company News of the Day

Date : 01/24/2020 @ 8:30AM
Source : Dow Jones News

News Highlights: Top Company News of the Day

Ericsson Ups Dividend as 5G Momentum Continues 

Ericsson raised its annual dividend and reported a quarterly net profit of $465 million, as operators in Asia and the Middle East continued to spend on their 5G networks, offsetting a slowdown in the U.S. market.

Remy Cointreau To Issue New Guidance as Sales Slump 

Remy Cointreau posted third-quarter sales of EUR290.2 million, sharply missing expectations, and suspended its guidance, saying it would issue a new strategic roadmap later this year.

Axel Springer Plans Frankfurt Delisting 

Axel Springer is going private in a deal led by KKR, which owns around 45% of the German media giant.

Givaudan Confirms Guidance as Profits Rise 

Givaudan said it was on track to deliver its 2020 guidance after the flavor and fragrance maker posted an annual profit of CHF702 million.

Timberland Struggles to Sell Its Classic Boot 

Sales of the iconic boot brand fell 4% in the holiday quarter, and executives said it will take more time to turn around its performance. Shares of owner VF tumbled.

Broadcom Lands Deals to Place Components in Apple Smartphones 

Broadcom Inc. said it reached multiyear supply agreements with Apple Inc. to provide wireless components for Apple products into 2023, deals that could generate billions of dollars worth of business.

JPMorgan CEO Jamie Dimon's Compensation Rises to $31.5 Million 

JPMorgan Chase paid its chief executive, James Dimon, $31.5 million for his work in 2019, a 1.6% boost, as the bank set fresh records in profit and stock price.

Indonesia's Lion Air to Start Testing Investor Appetite for IPO 

Indonesia's Lion Air will begin testing investor appetite ahead of a possible initial public offering, people familiar with the process said Friday.

Alta Mesa Sale Is Approved Despite Bondholder Objections 

The judge overseeing Alta Mesa Resources' bankruptcy approved a $320 million sale of the oil-and-gas company, quashing objections by junior creditors that pushed a rival restructuring proposal.

Greeting Cards Retailer Papyrus Files for Bankruptcy, Plans to Close Stores 

Greeting cards and stationery retailer Papyrus filed for bankruptcy with a plan to close all its stores in the U.S. and Canada after it was unable to find a buyer to keep its stores and sister outlets, American Greetings, Carlton Cards and Paper Destiny, in business.


(END) Dow Jones Newswires

January 24, 2020 03:15 ET (08:15 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

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