News Highlights: Top Company News of the Day
February 01 2023 - 9:15AM
Dow Jones News
Peloton Narrows Losses as Sales Fall Less Than Forecast
The maker of connected fitness equipment reported a 30% drop in
quarterly sales, though it reduced the amount of cash being burned
by its operations.
BP's CEO Plays Down Renewables Push as Returns Lag
Chief Executive Bernard Looney has said he is disappointed in
the returns from some renewable investments and plans to pursue a
narrower green-energy strategy.
T-Mobile Earnings Surge on Customer Additions
T-Mobile US's profit more than tripled in the latest quarter as
it recorded lower costs tied to its merger with Sprint.
Altria Unveils $1 Billion Stock Buyback as Earnings Top Estimates
The cigarettes company reported adjusted earnings per share of
$1.18 on revenue of $6.1 billion in the final three months of the
year.
Adani Stock Slump Deepens After Share Offering
Wednesday's selloff took the Indian conglomerate's market value
losses to $85 billion since the release of a short seller's
report.
J.P. Morgan Asset Management Adds $500 Million of Southern Timberland
The deal is Wall Street's latest wager that forests will be
valued for more than just wood products.
Meta Is Expected to Post Earnings Drop From Digital Ad Woes
The Facebook and Instagram parent has been leaning more heavily
on artificial intelligence to revive its fortunes.
Intel CEO Takes Pay Cut as Chip Maker Targets Cost Reductions
Intel CEO Pat Gelsinger and other managers are taking pay cuts,
days after the company's quarterly earnings disappointed Wall
Street.
Ariel Investments Raises $1.45 Billion for Debut Private-Equity Fund
The Chicago asset manager plans to acquire or establish
minority-led suppliers for major U.S. corporations.
Salesforce, Disney, Others Draw an Activist 'Swarm'
Shareholder activists, newly emboldened by beaten-down share
prices, are increasingly crowding into the same big names.
(END) Dow Jones Newswires
February 01, 2023 09:00 ET (14:00 GMT)
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