News Highlights: Top Company News of the Day
June 30 2022 - 1:30PM
Dow Jones News
If JetBlue Needs Spirit Airlines This Badly, It Must Fear Life Alone
JetBlue's willingness to pay a hefty premium for low-cost
carrier Spirit Airlines is being punished by investors, with some
wondering what it suggests about JetBlue's place in a future of
high costs.
Beer Demand Lifts Corona Maker's Sales
Constellation Brands said quarterly sales grew by almost 17%,
with strong demand for Modelo and Corona beers helping offset
rising costs, and said its board has agreed to a plan reducing the
Sands family's voting power.
Unity Software Lays Off Around 4% of Workforce
The maker of tools for creating mobile games and other
applications is the latest tech company to turn cautious about
staffing.
Drugmaker Endo Skips Interest Payment Amid Debt Talks
The drug producer is in discussions with creditors as it faces
an earnings drop and thousands of opioid-related lawsuits.
RH Cuts Financial Targets, as Furniture Retailers Face Slower Consumer Spending
RH, formerly Restoration Hardware, is the latest furniture
seller to brace for a sharp slowdown in sales, as mortgage rates
rise and consumers pull back spending on sofas, beds and other
furnishings.
Walgreens Profit Shrinks After Opioid Deal, Fewer Vaccinations
The drugstore chain said its quarterly sales fell and earnings
plunged as revenue from Covid-19 vaccinations dried up. It also
paid out a $683 million opioid settlement.
Pfizer Asks FDA to Fully Approve Its Covid-19 Pill
Approval of Paxlovid, which has been available under an Food and
Drug Administration authorization for use during the pandemic,
would allow Pfizer to market and sell it commercially.
Singapore Central Bank Reprimands Crypto Hedge Fund Three Arrows
Singapore's top financial regulator reprimanded cryptocurrency
hedge fund Three Arrows Capital, saying it supplied false
information to officials and managed more assets than allowed.
Tencent, ByteDance Implement Fresh Layoffs Amid China's Economic Pains
The latest round of job cuts at Chinese tech giants comes even
as Beijing signals an easing of its regulatory campaign against the
tech sector.
UBS to Pay $25 Million to Settle SEC Fraud Charges
The Swiss bank agreed to settle fraud charges from the
Securities and Exchange Commission over a complex options trading
strategy that lost customers tens of millions of dollars.
(END) Dow Jones Newswires
June 30, 2022 13:15 ET (17:15 GMT)
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