News Highlights: Top Company News of the Day
May 17 2022 - 9:15AM
Dow Jones News
Gerber Owner Nestlé to Fly Extra Baby Formula to the U.S.
Following supply shortages, Nestlé said it has significantly
increased the amount of formula available by ramping up production.
It said it has given priority to the two brands it is flying
in-Gerber Good Start Extensive HA and Alfamino.
Walmart Earnings Dented by Higher Costs
The country's largest retailer by revenue reported stronger
sales in the first quarter but said that higher costs ate into its
profits.
Elon Musk Demands Clarity on Twitter Fake Accounts for Deal to Move Forward
The Tesla CEO said his $44 billion deal can't move forward until
the company is clearer about how many of its accounts are fake.
Home Depot Raises Outlook as Fewer Customers Spend More
The home-improvement chain said that the average amount spent
per transaction rose 11.4% while the number of transactions
declined 8.2% in the first quarter, as inflation continues to lift
prices across its stores.
Goldman Opens Up Its Vacation Rules for Senior Managers
One of Wall Street's best-known and most hard-charging banks is
offering some employees an uncapped amount of vacation days.
Disney Vows to Show Very Few Commercials on Ad-Supported Disney+
The total ad load is to be limited to four minutes an hour, and
preschool children who use their own profile to watch the
ad-supported Disney+ won't see any ads.
India's LIC Falls on Trading Debut After Landmark IPO
India's biggest life insurer stumbled on its trading debut after
leaning on small investors to help it push through a record $2.7
billion IPO despite global market turbulence.
Tech Giants Want to Own Your Summer Vacation
Airbnb and Uber have reassured investors they have ample supply
to manage summer demand. A lot is riding on new-product
announcements.
Petronas Chemicals Buys Perstorp in Bid to Diversify Into Specialty Chemicals
Petronas Chemicals Group Bhd. proposed to buy Sweden specialty
chemical company Perstorp Holding AB in a bid to diversify existing
businesses and capture new growth opportunities.
Carlyle's $4.2 Billion ManTech Deal Shows Private Equity's Defense Appetite
Carlyle Group's acquisition of software company ManTech
International suggests that private equity might be getting more
bullish on defense and national-security contractors, research
analysts said.
(END) Dow Jones Newswires
May 17, 2022 09:00 ET (13:00 GMT)
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