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News Highlights: Top Company News of the Day
Today 5:00 AM ET (Dow Jones)Print
Auto-Parts Giant Slams Brakes on Engines Amid Shift to Electric
Continental, one of the world's biggest car-parts makers, is saying goodbye to the internal combustion engine-the machine that has been at the heart of the auto industry for well over a century.
Commerzbank Cautious as Profit Dips
Commerzbank cautioned that its full-year net income target had become "significantly more ambitious" after it reported a slight fall in second quarter net profit to EUR271 million.
UniCredit Cuts Revenue Forecast
UniCredit cut its revenue guidance for the year after its second-quarter numbers fell short of expectations.
New Nintendo Switch to Have IGZO Display From Sharp
Nintendo's new Switch consoles will have IGZO display panels made by Sharp, a top Sharp executive said. The semiconducting material's features include high resolution, low energy consumption and durability.
SoftBank 1Q Net More Than Triples On Alibaba Stake Sale, Vision Fund Gains
SoftBank Group Corp.'s first quarter net profit more than tripled from a year ago, boosted by proceeds from the 2016 sale of shares in China's Alibaba Group Holding Ltd. and Vision Fund-related investment gains.
Hertz Beats Revenue Expectations in Latest Quarter
The car-rental giant swung to a profit in its second quarter on record revenue, sending shares of the company higher in after-market trading.
Venezuela Embargo Puts Citgo Bond Payment at Risk
Venezuela's opposition leaders said the latest U.S. economic sanctions on its government shield state-owned refiner Citgo Petroleum from being seized, possibly allowing them to avoid more than $900 million in coming bond payments.
Match Group Shares Rise as Company Outperforms Expectations
Match Group's shares rose nearly 18% in after-hours trading Tuesday as the company posted higher-than-expected profit and sales in the latest quarter.
Discovery CEO Says 'Television Industry Is Far From Dead'
Discovery said second-quarter earnings grew more than fourfold, boosted by a tax benefit, higher operating results and strong advertising revenue growth, prompting its chief executive to say that the TV industry was "far from dead."
Papa John's Returns to Profit After Tough Year
Papa John's International reported its first quarterly profit since last year, but the company is still struggling to lift sales from its locations in the U.S. and Canada following a host of controversies.
