Sonos Loses CFO as It Faces Economic Headwinds

Sonos is losing its chief financial officer as the speaker maker faces economic challenges and has cut its outlook for the fiscal year.

 
Disney Reports Earnings Surge, Reduces Long-Term Forecast for Disney+ Subscribers

The entertainment giant's theme parks division took in record revenue as its streaming business beat analysts' expectations due to international growth.

 
Walgreens Helped Fuel San Francisco Opioid Epidemic, Judge Rules

Pharmacy chain plans to appeal decision, saying it never manufactured or marketed opioids

 
Bumble Sales Rise on Higher User Spending

Sales at the online dating company climbed in the latest quarter, driven by higher spending by users as prepandemic conditions have largely returned.

 
SpaceX Loses Starlink Rural Broadband Subsidies

The FCC rescinded $2 billion in grants to Elon Musk's company and an internet provider, saying the companies weren't likely to meet funding requirements.

 
Ex-JPMorgan Traders Convicted in Federal Fraud Trial

Justice Department had alleged that the precious-metals traders spoofed gold futures for years.

 
Siemens Posts Loss on Writedown, Cuts EPS Target

Siemens cut its earnings per share forecast for fiscal 2022 after it swung to a loss in its third quarter due to an impairment on its investment in Siemens Energy.

 
Daimler Truck Full-Year on Target Despite Cost Challenges

Daimler Truck booked adjusted earnings of just over EUR1 billion in the second quarter and said its financial targets for 2022 remained unchanged, despite the cost challenges.

 
Hapag-Lloyd Profit Surges But Outlook Uncertain

Hapag-Lloyd posted a second-quarter net profit of EUR4.5 billion and confirmed its adjusted earnings target, but cautioned that its outlook was clouded by several factors, including rising costs and supply-chain issues.

 
Longfor Group Shares Rebound After Stressing On-Time Debt Repayment

Shares of Longfor Group Holdings Ltd. rebounded in Hong Kong after the Chinese property developer sought to calm fears about its debt repayments.

(END) Dow Jones Newswires

August 11, 2022 07:00 ET (11:00 GMT)

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