News Highlights: Top Company News of the Day
Kohl's First-Quarter Sales Fall as Retailers Struggle With Inflation
Kohl's reported a 5.2% drop in first-quarter sales, the latest
major retailer to struggle as inflation saps consumer spending
power and raises costs for doing business.
McDonald's to Sell Russian Business to Licensee
The fast-food giant said existing licensee Alexander Govor will
acquire McDonald's entire restaurant portfolio in Russia and
operate the restaurants under a new brand.
Spirit Airlines Urges Shareholders to Reject JetBlue Offer
The carrier's board is urging shareholders to instead vote for a
tie-up with Frontier, over concerns that a combination with JetBlue
would be blocked by antitrust regulators.
BJ's Stock is Higher After Earnings. Gasoline Sales Helped Revenue Beat Expectations.
Total comparable club sales for the food retailer increased by
14.4% in the first quarter compared with the same period last
Boeing Gets Boost With Long-Awaited 737 MAX Deal From British Airways Owner
The plane maker won a key order for 737 MAX aircraft from IAG,
in a boost after losing a series of sales from longtime customers
to rival Airbus.
Fintech Giant Klarna Looks for New Funds at Lower Valuation
The SoftBank-backed buy-now-pay-later startup, valued last year
at $46 billion, could see its valuation fall by one-third in a
tough environment for technology companies.
EDF Cuts Output Estimates, Takes Profit Hit
EDF said it expects an earnings hit of around EUR18.5 billion
this year after t lowered its nuclear output estimates due to
inspections for stress corrosion at some of its reactors.
TSMC Considering Multibillion-Dollar Chip Plant in Singapore
The world's largest contract chip maker is considering building
a semiconductor factory in Singapore to help address a global
Fintech Lender Upstart Says It Won't Keep Excess Loans on Balance Sheet
Upstart will no longer park loans on its balance sheet that
financial institutions aren't interested in buying after its
decision to hold on to such loans earlier this year surprised
investors, its finance chief said.
EasyJet Sees Jump in Bookings as Loss Narrows
easyJet said bookings in the past 10 weeks were 6% above the
same period in 2019 and that it remained confident in its plans for
the summer, as the airline cut its first-half adjusted loss to
(END) Dow Jones Newswires
May 19, 2022 09:00 ET (13:00 GMT)
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