News Highlights: Top Company News of the Day
January 31 2023 - 09:30AM
Dow Jones News
Exxon Vaults to Record Annual Profit of $55.7 Billion
Only Apple and Microsoft so far have surpassed Exxon's fiscal
2022 profit as the oil giant capitalized on high commodity
Paramount+ and Showtime to integrate content, rebrand later this year
Media giant Paramount Global Inc. on Monday announced it plans
to merge its Paramount+ streaming service with its premium cable
CEO of Penguin Random House U.S. Steps Down
Madeline McIntosh is the third top executive to leave the
company in the past two months.
GM's Profit Soars as Supply-Chain Problems Ease
The auto maker said strong results in North America helped
offset weakness in China to lift its net profit during the
October-to-December period to $2 billion.
Pfizer Expects Drop in Revenue as Vaccine Demand Wanes
The drugmaker said revenue from Covid-19 products is slated to
reach a low point this year due to a significant government
stockpile on hand.
Caterpillar Sales Rise 20% on Strong Demand
Demand for construction and mining equipment as well as engines
for transportation and energy generation stayed strong even as the
company charged higher prices.
McDonald's Sales Boosted by New Menu Offerings, Price Increases
McDonald's said global same-store sales were up 12.6% in the
fourth quarter, but cautioned that inflation will continue to
pressure its business this year.
UPS Prepares for Slowdown in Global Delivery Volumes
The delivery company said annual revenue could decline for the
first time in years.
Spotify Adds Users, Reports Loss After Big Investments in Podcasts
Spotify reported strong user growth but another quarterly loss
after the company invested extensively to build its podcast
Whole Foods Asks Suppliers to Lower Prices
The grocery chain told suppliers at a virtual summit that it
wants to bring down retail prices in its store aisles as inflation
(END) Dow Jones Newswires
January 31, 2023 09:15 ET (14:15 GMT)
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