News Highlights: Top Company News of the Day
April 24 2019 - 11:30AM
Dow Jones News
Occidental Seeks to Buy Anadarko for $38 Billion, Topping Chevron Deal
Occidental Petroleum offered to buy Anadarko Petroleum for $38
billion, launching a potential bidding war for a company that
previously agreed to be purchased by Chevron for about $33
billion.
737 MAX Grounding to Cost Boeing More Than $1 Billion
Boeing said it would take an initial hit of more than $1 billion
on the global grounding of the 737 MAX jetliner following two fatal
crashes as the plane maker suspended full-year financial
guidance.
Caterpillar Gains on Mining, Construction Strength
Caterpillar beat revenue expectations for the first quarter,
thanks to higher demand for its mining and construction
equipment.
AT&T's Pay-TV Subscribers Continue to Flee
AT&T's pay-TV subscriber base eroded further during the
first quarter, adding pressure on the telecom and media giant's
project to develop a new streaming service aimed at
cord-cutters.
Nissan Issues Second Profit Warning as It Unwinds Ghosn's Strategy
Nissan Motor issued its second profit warning this year, weighed
down by a warranty extension for vehicles in the U.S. and efforts
to unwind a U.S. sales strategy by former Chairman Carlos
Ghosn.
Samsung to Invest $116 Billion to Diversify Chip Strategy
Samsung Electronics said it would invest about $116 billion by
2030 to further diversify its semiconductor production beyond
memory chips, as the company seeks new growth drivers.
Ford Accelerates Its Electric-Vehicle Push With $500 Million Stake in Rivian
Ford Motor is taking a stake in electric-truck startup Rivian
Automotive, the latest example of a large auto maker betting on the
emergence of battery-powered vehicles.
SoftBank to Invest $1 Billion in Payments Firm Wirecard
German payments company Wirecard received a $1 billion
investment pledge from Japanese technology giant SoftBank, a vote
of confidence in a company struggling to get past accounting issues
in its Asian arm and investor skepticism of its financial reporting
and business model.
General Dynamics 1Q Profit Falls, Misses Views
The aerospace and defense company's net profit dropped to $745
million, or $2.56 a share, from $799 million, or $2.65 a share, a
year earlier.
Uber Picks Citadel Securities to Handle Its IPO
Uber has chosen electronic-trading giant Citadel Securities to
manage its hotly anticipated initial public offering on the New
York Stock Exchange.
(END) Dow Jones Newswires
April 24, 2019 11:15 ET (15:15 GMT)
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