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 Forecasts Declining Sales and Improving Margins

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.

 
Andreessen Horowitz Debuts $600 Million Gaming Fund to Add to Web3 Bets

The fund steps up the venture firm's bets on Web3 technology just as a broader market decline underscores the volatility of the cryptocurrency-based sector.

 
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.

(END) Dow Jones Newswires

May 18, 2022 11:15 ET (15:15 GMT)

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