News Highlights: Top Company News of the Day
August 10 2022 - 3:30AM
Dow Jones News
Elon Musk Sells Nearly $7 Billion Worth of Tesla Stock Amid Twitter Uncertainty
The billionaire suggested the stock sales were aimed at avoiding
a fire sale if forced to buy the social-media company.
Chip Makers Expect Demand Slowdown to Expand Beyond PCs, Smartphones
The White House committed to long-term U.S. chip expansion as
companies are dialing down their near-term spending.
Micron Warns of Weakening Demand, Lower Sales
The company said in a regulatory filing that expectations for
industry bit-demand growth for dynamic random-access memory chips
and NAND flash memory chips have softened since it last provided
guidance.
Coinbase Posts Steep Second-Quarter Loss Amid Crypto Meltdown
The largest U.S. crypto exchange posted its second consecutive
quarter of losses, hurt by sharp loss in trading fees.
Walmart Explores Adding Streaming Video to Walmart+ Membership Program
The retailer has held talks with Disney, Comcast and Paramount
about adding one of their services as a perk.
BuzzFeed Expects Recession Fears to Pressure Advertising
The digital media company posts 20% rise in revenue, boosted by
sponsored-content growth.
Ahold Delhaize Postpones Bol.com IPO
Ahold Delhaize has temporarily pulled plans to list its Bol.com
unit, blaming current market conditions, as the grocer posted a 12%
rise in second-quarter net profit and lifted its guidance.
TUI Forecasts Full-Year Profit as Bookings Rebound
TUI reported a much narrower operating loss of EUR27 million in
the third quarter and said it expects to be profitable for the
fiscal year, with summer bookings seen close to pre-pandemic
levels.
E.ON Confirms Outlook Despite Lower Earnings
E.ON reported a drop in second-quarter adjusted earnings to
EUR1.3 billion, despite a jump in sales, and backed its guidance
for the full year and reaffirmed its targets through 2026.
ABN AMRO Profit Tops Market Views
UPDATED: ABN AMRO posted an above-forecast net profit for the
second quarter and said net interest income, which fell in the
quarter, should end the year ahead of expectations.
(END) Dow Jones Newswires
August 10, 2022 03:15 ET (07:15 GMT)
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