News Highlights: Top Company News of the Day
Nike Is Expected to Step Up Discounts to Move Excess Inventory
As the holiday season nears and with uncertainty around
consumers' retail spending, Nike quarterly inventories rose 23%
versus a year ago, and analysts said supply-chain bottlenecks
CarMax Shares Slump as Inflation Weighs on Used-Car Demand
The used-car retailer posted 2% sales growth on higher prices
even as it sold fewer units.
Brookfield Buys U.S. Renewable Developers for $1.5 Billion
The deals for Scout Clean Energy and Standard Solar will add a
flood of cash into the renewable energy sector despite market
Bed Bath & Beyond's Losses Widen as Sales Drop 28%
The company's net loss ballooned to $366 million, and gross
margin declined to 27.7% of sales as it cleared inventory it was
unable to sell at full price.
Peloton to Sell Exercise Bikes at Dick's Sporting Goods, Expanding Retail Push
The fitness-gear company has been expanding where consumers can
buy their products amid a drop in demand as people return to the
Tyson's Choice of CFO Raises Concerns About Potential Conflicts of Interest
The meat producer named the 32-year-old son of its chairman to
the finance chief role. The Tyson family controls a large chunk of
voting rights at the company.
Deloitte's Chinese Affiliate to Settle Probe Into Outsourced Work
The Chinese affiliate of Big Four accounting firm Deloitte will
pay $20 million to settle regulatory claims that it outsourced some
audit work to companies whose financial statements it was hired to
BlackRock Private Equity Founder Steenberg to Hand Off Management of Business
Russ Steenberg, who founded BlackRock Private Equity Partners in
1999, will become chairman and hand day-to-day oversight to Lynn
Baranski and John Seeg.
Porsche Shares Rise Above IPO Price in Debut
Shares have been supported by investors who missed out in one of
Europe's biggest initial public offerings.
Phil Collins and Genesis Bandmates Sell Music Rights for Over $300 Million
The deal includes the publishing copyrights and a mix of
recorded music income streams and masters from their individual
careers and work as the progressive rock group.
(END) Dow Jones Newswires
September 29, 2022 13:00 ET (17:00 GMT)
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