News Highlights: Top Company News of the Day
Sonos Loses CFO as It Faces Economic Headwinds
Sonos is losing its chief financial officer as the speaker maker
faces economic challenges and has cut its outlook for the fiscal
Disney Reports Earnings Surge, Reduces Long-Term Forecast for Disney+ Subscribers
The entertainment giant's theme parks division took in record
revenue as its streaming business beat analysts' expectations due
to international growth.
Walgreens Helped Fuel San Francisco Opioid Epidemic, Judge Rules
Pharmacy chain plans to appeal decision, saying it never
manufactured or marketed opioids
Bumble Sales Rise on Higher User Spending
Sales at the online dating company climbed in the latest
quarter, driven by higher spending by users as prepandemic
conditions have largely returned.
SpaceX Loses Starlink Rural Broadband Subsidies
The FCC rescinded $2 billion in grants to Elon Musk's company
and an internet provider, saying the companies weren't likely to
meet funding requirements.
Ex-JPMorgan Traders Convicted in Federal Fraud Trial
Justice Department had alleged that the precious-metals traders
spoofed gold futures for years.
Siemens Posts Loss on Writedown, Cuts EPS Target
Siemens cut its earnings per share forecast for fiscal 2022
after it swung to a loss in its third quarter due to an impairment
on its investment in Siemens Energy.
Daimler Truck Full-Year on Target Despite Cost Challenges
Daimler Truck booked adjusted earnings of just over EUR1 billion
in the second quarter and said its financial targets for 2022
remained unchanged, despite the cost challenges.
Hapag-Lloyd Profit Surges But Outlook Uncertain
Hapag-Lloyd posted a second-quarter net profit of EUR4.5 billion
and confirmed its adjusted earnings target, but cautioned that its
outlook was clouded by several factors, including rising costs and
Longfor Group Shares Rebound After Stressing On-Time Debt Repayment
Shares of Longfor Group Holdings Ltd. rebounded in Hong Kong
after the Chinese property developer sought to calm fears about its
(END) Dow Jones Newswires
August 11, 2022 07:00 ET (11:00 GMT)
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