News Highlights: Top Company News of the Day
May 27 2022 - 7:15AM
Dow Jones News
'Top Gun: Maverick' Loses Chinese Investor
Tencent Holdings pulled out of financing the film over concerns
that Chinese officials would be angry about its affiliation with a
movie celebrating the American military.
Broadcom Deal for VMware Highlights the Rise of Virtualization
The $61 billion acquisition of VMware reflects growing demand
for software applications that replace expensive computer
hardware.
WeWork Names Third CFO in Less Than Three Years
The co-working space operator is still recovering from the
pandemic.
Alibaba's Earnings Beat Expectations, But a Tougher Quarter Begins
Alibaba Group Holding Ltd.'s fresh earnings beat offered some
relief to the beleaguered company's investors, but mounting
pressures in the new quarter will make that performance hard to
repeat, analysts say.
Microsoft Slows Some Hiring Amid Economic Uncertainty
The software company is the latest tech giant to become more
cautious about hiring.
Old Navy to Scale Back Its Inclusive Sizing Strategy
The chain said it is scaling back an attempt to make women's
clothes more inclusive for all body types, after demand for the
larger sizes fell short and the chain didn't have enough middle
sizes.
Glencore Said It Revamped Its Compliance Program Following Guilty Pleas
The Anglo-Swiss commodities company published a 13-page investor
update about its ethics and compliance program, which coincided
with settlements it reached with various regulators.
Dell's Earnings Crush Estimates on Strong Enterprise Demand
The news could calm concerns about a potential softening of
business spending on technology sparked by disappointing results
from Cisco Systems.
Retailers Get Lift From Resilient Shoppers
Macy's and Dollar Tree reported strong sales that bucked broader
trends among retailers, but they warned of signs that inflation is
changing consumer behavior.
Costco sales top estimates by $1 billion, but misses on same-store sales
Costco Wholesale Corp. brought in $1 billion more than expected
in revenue in its latest quarter, keeping the retailer on track for
its first $200 billion year.
(END) Dow Jones Newswires
May 27, 2022 07:00 ET (11:00 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.