Coverage: PG&E plunges amid evidence it may be at fault for California wildfires
Shares of utility PG&E fell 21 percent on Wednesday after the company said that if its equipment is responsible for the “Camp Fire” burning in Northern California, the cost of the damage would exceed its insurance coverage and harm its financial health. Thomas Franck of CNBC.com had the news: “While the cause of the Camp Fire is still […]
Coverage: Kellogg wants to sell its cookies and fruit snacks to focus on breakfast
Kellogg Co. is selling its Keebler, Famous Amos and fruit snacks businesses, making it the latest Big Food company to look to pare down to focus on its core. Dawn Kopecki and Lauren Hirsch of CNBC.com had the news: The maker of Special K cereal said Monday it is focusing on its morning foods, snacks and frozen foods brands, […]
Coverage: SAP is buying Qualtrics for $8 billion
SAP SE has agreed to purchase Qualtrics International Inc. for $8 billion in cash, the companies announced Sunday. Mike Murphy of MarketWatch.com had the news: Qualtrics, a Utah-based software company, had filed for an initial public offering in October hoping to raise about $200 million. Bill McDermott, chief executive of German-based software giant SAP, said Sunday the deal […]
Coverage: Disney is clicking on all cylinders — almost
The box office success of “Incredibles 2” and “Ant-Man and the Wasp” combined with the popularity of the Walt Disney Co.’s theme parks bolstered quarterly earnings at the Hollywood conglomerate. Brent Lang of Variety had the news: Diluted earnings per share for the fourth quarter increased 37% to $1.55, while revenues climbed 12% to $14.3 billion. Net income […]
Biz journalists want to write exclusive stories, not just disseminate: Study
Business journalists prefer to write articles with exclusive content that comes from sources inside companies rather than simply disseminating information that companies provide to everyone, according to research released this week. Four business school professors — Andrew C. Call, Scott A. Emett and Eldar Maksymov of Arizona State University and Nathan Y. Sharp of Texas […]
Coverage: Roku falls 12% after earnings beat
Shares of Roku plunged as much as 12 percent in extended trading Wednesday despite beating on both the top and bottom lines in its third-quarter earnings. Sara Salinas of CNBC.com had the news: Roku raised full-year revenue guidance to a range of $722 million to $732 million, up from a previous range of $710 million to $730 million. That […]
Coverage: Papa John’s same-store sales dropped 10% in the third quarter
As it unveiled its third-quarter results late Tuesday afternoon, Papa John’s told analysts that its battle to lure customers back to its stores is still a work in progress, and the performance reflected that. Grace Schneider of the Louisville Courier Journal had the news: North American same-store sales dropped — again — by nearly 10 percent, leading to a consolidated loss before […]
Coverage: Davis, the scourge of CEOs, dies at 89
Evelyn Y. Davis, the well-known corporate gadfly who attended company annual meetings to ask embarrassing questions to chief executive officers over the past three decades, has died at the age of 89. Michael Hiltzik of the Los Angeles Times had the news: At corporate annual meetings back in the 1980s and 1990s, there came a point dreaded […]
Coverage: Amazon is close to picking its HQ2 location
Amazon.com Inc. has progressed to late-stage talks on its planned second headquarters with a small handful of communities, including northern Virginia’s Crystal City, Dallas and New York City. Laura Stevens, Scott Calvert and Tawnell D. Hobbs of The Wall Street Journal had the news: The ongoing talks with some local officials come as discussions appear to have cooled in some […]
Coverage: Apple warns on holiday sales, sending stock price down
Apple Inc. on Thursday warned that sales for the crucial holiday quarter would likely miss Wall Street expectations, which Chief Executive Tim Cook blamed on weakness in emerging markets and foreign exchange costs. Stephen Nellis of Reuters had the news: The disappointing forecast by the world’s most valuable technology company helped send shares down as much […]
