News Highlights: Top Company News of the Day
26 April 2017 - 03:30AM
Dow Jones News
Coke to Cut 20% of Corporate Staff as It Battles Soda Slump
Coca-Cola's profit and revenue continued to slide in the first
quarter of the year as weakness in Latin America flattened volumes,
and the soda maker said it would expand its efforts to cut
costs.
Tyson Foods to Buy Sandwich Maker AdvancePierre
Tyson agreed to acquire sandwich maker AdvancePierre in a $4.2
billion deal that will broaden the giant meat processor's range of
prepared foods.
Wells Holders Expected to Re-Elect Board, Send Message
Shareholders are expected to re-elect all Wells Fargo directors
but some with low levels of support, sending a message they seek
further change at the bank.
Elliott Rejects Arconic's Board Offer, Extending Proxy Fight
Elliott Management rejected a deal proposed by Arconic that was
meant to defuse the long-running spat between the aerospace-parts
maker and its activist investor, extending their proxy battle.
J. Crew Plans to Cut 250 Jobs
J. Crew said it would cut about 250 jobs, part of a cost-cutting
effort as the retailer battles declining sales and shifting
shopping patterns.
Regulars Lift McDonald's Sales
The expansion of breakfast offerings as well as Big Mac and
beverage promotions helped lift the chain's comparable sales in the
first quarter above estimates.
Yahoo's Marissa Mayer to Make $186 Million From Verizon Deal
Yahoo Chief Executive Marissa Mayer is set to make some $186
million as a result of the internet company's sale of its core
business to Verizon Communications, according to securities
filings.
Lockheed Martin's Profit and Sales Fall Short of Expectations
Lockheed Martin lowered its full-year profit expectations
Tuesday, as the company's latest quarterly earnings and sales fell
short of guidance.
Akzo Nobel Rejects Elliott's Bid to Oust Its Chairman
Akzo Nobel rejected a request by activist investor Elliott
Management to hold a shareholder meeting to oust its supervisory
board chairman. The move comes a day after PPG Industries submitted
its third bid for the Dutch paint company.
Eli Lilly Working to Cut Costs
Eli Lilly & Co. on Tuesday reported higher revenue but swung
to a loss and cut its profit forecast due to charges related to
cost-cutting efforts.
(END) Dow Jones Newswires
April 25, 2017 13:15 ET (17:15 GMT)
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