News Highlights: Top Company News of the Day
Moderna Names New CFO After Hasty Departure of Predecessor
James Mock, CFO of PerkinElmer, will join the Covid-19 vaccine
maker as finance chief in September.
FDA Approves Bluebird's Gene Therapy for Rare Blood Disease
Zynteglo treats patients who rely on regular blood transfusions
because of a genetic disease that interferes with the production of
Target's Profit Sinks as Retailer Unloads Unwanted Inventory
Operating margin came in lower than expected after the company
discounted items and canceled orders to clear a glut of goods.
Hottest Chip Maker Sees Cooling Ahead
Analog Devices' unique business model has spared it from the
chip slowdown so far, but its latest results include a warning
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.
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.
(END) Dow Jones Newswires
August 17, 2022 15:15 ET (19:15 GMT)
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