News Highlights: Top Company News of the Day
August 10 2022 - 5:15AM
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.
Honda Motor's Net Profit Falls on Car Sales Drop, Higher Costs
The Japanese car maker said its first-quarter net profit fell
33% from a year earlier due to higher costs for raw materials and a
drop in auto sales.
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 Misses Forecasts as Travel Chaos Takes Toll
UPDATED: TUI shares tumbled after the travel company posted a
surprise underlying loss, weighed by a charge related to the air
traffic disruptions in Europe.
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.
(END) Dow Jones Newswires
August 10, 2022 05:00 ET (09:00 GMT)
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