News Highlights: Top Company News of the Day
Target Shares Sink on Earnings Miss, High Costs
The retailer posted profit that trailed Wall Street forecasts as
shoppers bought fewer TVs and kitchen items.
Google Subsidiary in Russia to File for Bankruptcy
The company had already paused most of its commercial operations
in Russia after the country's communications censor accused the
YouTube video service of spreading misinformation and stoking
Tencent Posts Steepest Profit Decline Since Going Public
China's pandemic resurgence and its regulatory crackdown
contributed to videogame maker Tencent's worst-ever quarterly
profit drop and slowest revenue growth in nearly two decades.
TJX Forecasts Declining Sales and Improving Margins
The off-price retailer expects second-quarter earnings per share
in the range of 65 and 69 cents, lower than Wall Street
French Shipping Firm to Take Stake in Air France-KLM in Air Cargo Expansion
CMA CGM's 9% stake in the Franco-Dutch flag carrier comes as the
world's biggest container shipping lines have posted record
earnings after demand for manufactured goods soared during the
Lowe's Sales Drop After Unseasonably Cold April
The home-improvement retailer said comparable sales, which
strips out effects of store openings and closings, fell 4% in the
latest quarter, as cooler weather delayed some home projects.
Elon Musk's Twitter Bot Problem Is Fake News
Musk's new Twitter diligence is as questionable as the bots he
wants to ban. But his gambit has shined a light on a scourge of
online companies and their users.
Saudi Public Fund Takes 5% Stake in Nintendo
The kingdom's Public Investment Fund said its stake in Japan's
videogame company, worth about $3 billion, was purely an
Andreessen Horowitz Debuts $600 Million Gaming Fund to Add to Web3 Bets
The fund steps up the venture firm's bets on Web3 technology
just as a broader market decline underscores the volatility of the
Lawmakers Seek to Curb Voting Power of Big Asset Managers
A group of Republican senators is looking to curtail the power
big asset managers like BlackRock and Vanguard have over public
(END) Dow Jones Newswires
May 18, 2022 11:00 ET (15:00 GMT)
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