News Highlights: Top Company News of the Day
May 18 2022 - 9:30AM
Dow Jones News
Target Shares Sink on Earnings Miss, High Costs
The retailer posted profit that trailed Wall Street forecasts as
shoppers bought fewer TVs and kitchen items.
Google Subsidiary in Russia to File for Bankruptcy
The company had already paused most of its commercial operations
in Russia after the country's communications censor accused the
YouTube video service of spreading misinformation and stoking
protests.
Tencent Posts Steepest Profit Decline Since Going Public
China's pandemic resurgence and its regulatory crackdown
contributed to videogame maker Tencent's worst-ever quarterly
profit drop and slowest revenue growth in nearly two decades.
TJX Guides for Second-Quarter Earnings Below Forecasts
The off-price retailer expects second-quarter earnings per share
in the range of 65 and 69 cents, lower than Wall Street
estimates.
French Shipping Firm to Take Stake in Air France-KLM in Air Cargo Expansion
CMA CGM's 9% stake in the Franco-Dutch flag carrier comes as the
world's biggest container shipping lines have posted record
earnings after demand for manufactured goods soared during the
pandemic.
Lowe's Sales Drop After Unseasonably Cold April
The home-improvement retailer said comparable sales, which
strips out effects of store openings and closings, fell 4% in the
latest quarter, as cooler weather delayed some home projects.
Elon Musk's Twitter Bot Problem Is Fake News
Musk's new Twitter diligence is as questionable as the bots he
wants to ban. But his gambit has shined a light on a scourge of
online companies and their users.
Saudi Public Fund Takes 5% Stake in Nintendo
The kingdom's Public Investment Fund said its stake in Japan's
videogame company, worth about $3 billion, was purely an
investment.
Lawmakers Seek to Curb Voting Power of Big Asset Managers
A group of Republican senators is looking to curtail the power
big asset managers like BlackRock and Vanguard have over public
companies.
Siemens Energy Mulls Buyout of Gamesa
Siemens Energy said it was considering a cash tender offer for
all outstanding shares of Gamesa with the aim of delisting the
wind-turbine maker.
(END) Dow Jones Newswires
May 18, 2022 09:15 ET (13:15 GMT)
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