News Highlights: Top Company News of the Day
Micron Warns of Weakening Demand, Lower Sales
The company said in a regulatory filing that expectations for
industry bit-demand growth for dynamic random-access memory chips
and NAND flash memory chips have softened since it last provided
The Fun Slows for Videogame Companies
Covid-19 gave the videogame industry a boost as people stayed
home, but growth is slowing as people are going out again.
Hyatt's Profit Beat Estimates. Earnings Are Strong for Hotel Chains.
Like Marriott and Hilton, the hotel operator reported a higher
quarterly profit than Wall Street had forecast.
U.S. Solar Shipments Hit by Import Ban on China's Xinjiang Region
The U.S. solar industry is confronting fresh disruptions as U.S.
officials crack down on human-rights abuses in a region of China
that produces almost half the world's supply of a crucial component
in solar panels.
Avaya's Collapsing Debt Deal Hits Clients of Goldman, JPMorgan
The cloud-communications company cut its earnings forecast by
more than 60% a few weeks after borrowing $600 million from the
banks' investment clients.
TPG Reports Quarterly Loss as Portfolio Value Slides
TPG reported a loss in the second quarter as its investment
portfolio declined, although the private-equity manager saw a
significant increase in the fees it collected on its
Unlike Other Former SPACs, Rocket Lab Is Already Science, Not Fiction
Investors have lumped Rocket Lab together with other moonshots
that hit the market in 2021, but the small-satellite launcher has
already proven its business model and will benefit from a
post-Ukraine increase in military spending.
National Australia Bank's Third-Quarter Profit Rose
National Australia Bank Ltd., Australia's biggest business
lender, recorded a rise in third-quarter profit, and reported that
the majority of its customers were well placed to manage the
challenges of higher inflation and interest rates.
Munich Re Holds Profit Guidance But Warns on Investment Returns
UPDATED: Munich Re maintained its net profit guidance for 2022
but warned of a lower return on investment, faced with a cooling
economy and higher interest rates.
Carlsberg Upgrades Growth Outlook
Carlsberg forecast post organic operating profit growth in a
high single-digit-percentage this year, boosted by its business in
Europe and Asia.
(END) Dow Jones Newswires
August 09, 2022 09:15 ET (13:15 GMT)
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