News Highlights: Top Company News of the Day

Date : 25/06/2019 @ 21:30
Source : Dow Jones News

News Highlights: Top Company News of the Day

Behind Spate of Drug Deals, the Need for Short-Term Growth 

Pricing pressures and patent expirations for top-selling drugs are opening up opportunities for pharmaceutical companies to make major deals at relatively bargain prices.

Justice Department Investigates Chicken Industry 

The Department of Justice is pursuing a criminal investigation into the U.S. chicken industry, following allegations of price collusion among top poultry processors. Meat producers have denied engaging in anticompetitive conduct.

Micron Beats Targets Despite Weaker Profit, Revenue 

Micron Technology reported weaker revenue for its third quarter as it grapples with a downturn in memory-chip sales, but the decline wasn't as bad as Wall Street had anticipated. Shares rose in after-hours trading.

Consortium of Tech Firms Sets AI Benchmarks 

A consortium of tech companies, including Facebook and Google, has released a set of benchmarks for evaluating the performance of artificial-intelligence tools, aiming to help businesses navigate the fast-growing field.

PG&E Bondholders Propose $30 Billion Turnaround Plan 

PG&E Corp. bondholders have challenged the California utility over control of its bankruptcy proceeding, offering Wall Street's version of a solution to wildfire liabilities that are estimated at $30 billion or more.

Ex-UBS Compliance Officer and Day Trader Found Guilty of Insider Trading 

A U.K. jury convicted a former UBS AG compliance officer and a wealthy trader of insider trading.

Lennar Shares Drop After Warnings About Higher Costs 

Shares of Lennar slid more than 6% after a top company executive warned a labor shortage and trade tariffs on goods from China were concerns for the largest U.S. homebuilder.

Mitsubishi to Acquire Bombardier's Regional Jet Unit 

Mitsubishi said it would acquire Bombardier's regional-jet business for $550 million in a transaction that puts the companies on different paths in the aviation sector.

YouTube Content for Children Should Be Barred, Advocacy Groups Tell FTC 

Two privacy-advocacy groups are calling on the FTC to remove from YouTube all content aimed at children and to impose tens of billions in fines.

GE Reaches Labor Deal With Union Leaders 

General Electric reached a tentative four-year agreement with a group of unions after a few weeks of negotiations, keeping a labor peace as the conglomerate restructures operations.


(END) Dow Jones Newswires

June 25, 2019 17:15 ET (21:15 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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