News Highlights: Top Company News of the Day
Bed Bath & Beyond CEO Exits as Sales Plunge
Bed Bath & Beyond replaced Chief Executive Mark Tritton, as
the home-goods retailer's sales plunged due to a mismatch between
what its stores carry and what shoppers want.
Crypto Fund Three Arrows Ordered to Liquidate by Court
A British Virgin Islands court ordered the liquidation of the
cryptocurrency hedge fund after creditors sued it for failure to
Ford's Talk of New EV-Selling Rules Rattles Some Dealers
Ford Motor is preparing new rules for how it sells electric
vehicles, a shift that is concerning some dealers and seen as
challenging the traditional franchise model.
Behind the Celsius Sales Pitch Was a Crypto Firm Built on Risk
Celsius CEO Alex Mashinsky built his cryptocurrency lender on a
pitch that it was better than a bank. But investor documents show
it had far more risk than a traditional lender.
McCormick Cuts Forecasts as Costs Rise. The Stock Is Dropping.
The seasonings maker reported lower earnings and revenue than
Wall Street had expected for the quarter through the end of
FedEx's New Boss Faces Strategic Choice as Package Volumes Fall
Investors want to see more efficient operations, while
ground-delivery contractors are pressing for financial help.
'Top Gun' Is Acing Its Theater Run
Paramount's goal to maximize theatrical returns should inspire
other studios to be more flexible with their streaming plans.
H&M Profit Tops Forecasts but June Sales Weaken
H&M posted a better-than-expected second-quarter net profit,
with earnings boosted by well-received collections and lower
markdowns but cautioned that sales in June were likely to fall by
6%, impacted by the war in Ukraine.
Tesla Lays Off Some Staff in Closing California Office
The electric-vehicle maker said it was closing a San Mateo,
Calif., office and letting go about 200 people there. The company
is pursuing cost cuts under the pressure of inflation and
FTC Accuses Walmart of Letting Scammers Use Its Money-Transfer Services
The Federal Trade Commission sued Walmart on Tuesday alleging
the retailer allowed its money-transfer services to facilitate
fraud. Walmart called the suit "factually misguided."
(END) Dow Jones Newswires
June 29, 2022 09:15 ET (13:15 GMT)
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