News Highlights: Top Company News of the Day
29 March 2023 - 12:30AM
Dow Jones News
Jamie Dimon to Face Questioning in Lawsuit Over JPMorgan's Epstein Ties
The bank had resisted the U.S. Virgin Islands' efforts to force
the CEO to submit to a deposition.
Micron reports largest loss on record, but stock gains as execs say inventory issues have peaked
Micron reported its largest quarterly loss on record Tuesday,
but shares held up as executives suggested the memory-chip market
may be reaching a bottom.
Lululemon's stock rises on revenue, earnings beat
Lululemon Athletica Inc.'s stock rose more than 6% in extended
trading Tuesday after the clothing retailer reported quarterly
results that topped analyst revenue and earnings estimates, and
offered strong full-year revenue guidance.
Cal-Maine Foods profit jumps eightfold, revenue more than doubles as egg prices rise
Prices for eggs rose significantly and avian bird flu continued
to affect egg production, but Cal-Maine beat Wall Street
expectations.
EV Startup Lucid Cuts 18% of Workforce, Including Some Executives
The maker of high-end electric cars plans to lay off about 1,300
employees.
Alibaba to Split Into Six Groups and Explore IPOs
The biggest structural overhaul in the Chinese tech company's
history comes days after co-founder Jack Ma returned to mainland
China. The stock jumped in U.S. trading.
Sam Bankman-Fried Charged With Bribing Chinese Officials
Prosecutors accused the FTX founder of conspiring to pay off
Chinese officials to regain access to more than $1 billion in
frozen cryptocurrency.
Apple Rolls Out Buy Now, Pay Later Plan
The tech company will let users apply for loans of as much
$1,000 with no interest or fees.
Lawmakers Scold Fed Over Silicon Valley Bank Collapse
Senators rebuked the Federal Reserve for failing to prevent the
collapse of Silicon Valley Bank despite identifying risks
beforehand, while the central bank's top regulator blamed the
firm's executives for not fixing its problems.
U.S. Appeal Halts Binance.US From Buying Voyager Crypto Accounts
The U.S. government won a court order pausing Voyager's deal to
sell its customer accounts out of bankruptcy to Binance.US.
(END) Dow Jones Newswires
March 28, 2023 19:15 ET (23:15 GMT)
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