News Highlights: Top Company News of the Day
October 17 2018 - 7:30PM
Dow Jones News
Constellation CEO Rob Sands to Step Down From Corona Brewer
Rob Sands, the third in his family to lead the upstate Victor,
N.Y. company, will step aside as chief executive on March 1,
entrusting Constellation's future to one of his lieutenants, Bill
Newlands.
Alcoa Raises Profit Outlook as Tariffs Lift Aluminum Prices
Alcoa said higher U.S. aluminum prices from a tariff on imports
and rising sales of raw materials needed to make aluminum improved
its revenue in the third quarter.
EBay Sues Amazon, Alleging Sellers Were Illegally Poached
EBay.com filed a lawsuit against Amazon.com, accusing the
company of illegally poaching sellers on its marketplace via eBay's
internal messaging system.
Funds Back Proposal to Remove Zuckerberg as Facebook Chairman
Several public funds with holdings in Facebook are backing a
shareholder proposal to push out CEO Mark Zuckerberg as
chairman.
Nine West Creditors Committee Seeks Court OK to Sue Sycamore Partners
Junior creditors say shoe, apparel and accessories seller Nine
West Holdings Inc.'s bankruptcy exit strategy is unacceptable, and
they need to take over legal claims against private-equity owner
Sycamore Partners LP.
United, Delta Climb on Business-Class Demand
Strong demand for premium travel is helping U.S. carriers like
United and Delta offset higher fuel costs.
Ad-Tech Firm DataXu Hires Bank to Explore Possible Sale
Advertising-technology company DataXu is exploring a potential
sale, according to people familiar with the matter, initially
seeking a valuation of around $300 million.
IBM Shares Slide as Revenue Drop Renews Concerns
Shares of International Business Machines fell Wednesday after
the company's drop in revenue renewed concerns about the tech
giant's growth prospects.
SEC Charges Former Insurance Wunderkind With Fraud
The SEC charged Alexander Chatfield Burns, a former insurance
industry wunderkind, with fraud, claiming he and an associate
diverted more than $300 million from insurers they controlled.
Campbell Soup-Maker Descendants Say They Support Board
Some members of the family that has controlled Campbell Soup for
more than a century said they would work together to block activist
investor Daniel Loeb's attempt to replace the food-maker's board of
directors.
(END) Dow Jones Newswires
October 17, 2018 19:15 ET (23:15 GMT)
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