News Highlights: Top Company News of the Day
May 26 2022 - 9:30AM
Dow Jones News
Broadcom to Buy VMware for $61 Billion
The cash-and-stock deal marks the biggest bet yet that the boom
in enterprise software demand will endure despite the economic
tumult.
Dollar Stores Earnings Show Strength in Face of Inflation
The discount retail chains Dollar General and Dollar Tree beat
expectations for weaker quarterly sales and predicted stronger
profits for the year.
Alibaba, Hit by Covid in China, Posts Slowest Revenue Growth Since IPO
The e-commerce company posted a larger net loss compared with a
year before.
Macy's Posts Strong Sales Growth and Raises Earnings Outlook
The retailer's net sales rose nearly 13.6% to $5.35 billion in
the first quarter, bucking a downshift in consumer spending at
other retail companies and sending its shares higher.
Amazon Can't Get Out of Big Tech's Meeting Hell
Shareholder proposals surge at tech giants, but Amazon makes a
particularly tempting target.
Baidu Posts First-Quarter Loss Despite Higher Revenue
Chinese search engine giant Baidu Inc. swung to a loss in the
first quarter, as fair-value losses on investments offset a rise in
revenue.
Toshiba Nominates Representatives of Elliott, Farallon to Board
Toshiba Corp. is nominating seven new director candidates,
including representatives of major shareholders Elliott Management
Corp. and Farallon Capital Management LLC.
Lenovo's Fourth-Quarter Profit Jumped 48%
Lenovo Group said its fourth-quarter profit rose 48%, driven by
higher revenue and disposal gains.
Apple Raises Salary Budget Amid Tight Labor Market
The iPhone maker told employees in an email that the company is
increasing its overall compensation budget, a move that comes as it
faces store unionization attempts and higher inflation.
Musk Commits More of Wealth to Twitter Deal
His funding plan now includes $33.5 billion in equity, up from
$27.25 billion, amid a sharp price decline for Tesla shares.
(END) Dow Jones Newswires
May 26, 2022 09:15 ET (13:15 GMT)
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