News Highlights: Top Company News of the Day
Amazon Tests TikTok-Like Feed in App
The tech giant is testing a feature in its app that would show
users a TikTok-style photo and video feed of products for shoppers
to share with other users.
Germany's Uniper Reports Heavy Loss Over Russian Gas-Supply Cuts
The country's largest Russian-gas importer posted a net loss of
more than $12.6 billion for the first half of the year, hit hard
after Moscow slashed deliveries to Germany from June.
Target's Profit Drops as It Unloads Inventory
The retailer said it had to discount items to work through
inventory, but maintained its full-year outlook on revenue
Elliott Looms Over $16 Billion Philip Morris Deal
Philip Morris might have to raise its bid for Swedish Match to
gain full ownership of the smokeless-tobacco maker, in what could
prove to be the latest instance of a hedge-fund trade often linked
Lowe's Earnings Show Drop in Sales as Do-It-Yourself Customers Spend Less
The home-improvement retailer said it has plans to dole out $55
million in bonuses to front-line workers to help mitigate the pinch
they are feeling from rising prices.
Crypto Lender Genesis Lays Off 20% of Workforce, CEO to Depart
The moves come after the company was hit hard by the collapse of
hedge fund Three Arrows Capital, against which it has a claim of
Krispy Kreme Stock Is Tumbling. Earnings and Outlook Both Disappointed.
Donut maker Krispy Kreme missed expectations for the second
quarter, and cut the year outlook.
Etsy Owns Its Quirks-Investors Should Too
The e-commerce company should continue to show resilience in an
Tencent Posts First Revenue Drop Since 2004 IPO
The Chinese social-media giant's revenue dropped 3% as a slowing
economy further dented its online-ad revenue, while its videogame
business continued to struggle from tighter regulations.
Elon Musk Tweets He's Buying Manchester United, Then Calls It a Joke
Elon Musk said on Twitter he was buying English soccer team
Manchester United only to say hours later it was a joke, the latest
example of the Tesla CEO's using the platform to drop confusing
statements about his intentions.
(END) Dow Jones Newswires
August 17, 2022 13:00 ET (17:00 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.