News Highlights: Top Company News of the Day
August 17 2017 - 12:30PM
Dow Jones News
Mylan Settles EpiPen Medicaid Overcharge Claims for $465 Million
Mylan agreed to pay $465 million to settle federal government
claims that it overcharged the Medicaid program by millions of
dollars for its EpiPen products.
Wal-Mart Sales Rise as Retailer Dodges Industry Malaise
Wal-Mart Stores Inc.'s sales rose in the latest quarter, boosted
by an e-commerce surge and strong grocery sales, a sign that the
world's largest retailer continues to brush off the malaise
afflicting some competitors.
Alibaba's Net Income, Revenue Surge on Growth in Online Sales
The Chinese e-commerce giant's efforts to expand product
offerings and leverage big-data assets-all aimed at getting
consumers and advertisers to spend more-appear to be working.
GM Reaches Deal With 'Old GM' Trust on Ignition-Switch Defense Costs
General Motors has reached an agreement with the trust set up to
oversee its bankruptcy claims that likely thwarts lawyers' efforts
to extract an additional $1 billion from GM to settle claims
stemming from faulty ignition switches.
Elliott Management Wants Energen to Explore Sale Options
Elliott Management has built a big position in Energen Corp., a
natural-gas company already under pressure from another activist to
sell itself. The hedge fund owns a stake between 4% and 5% and is
joining with Corvex Management LP to urge a sale.
United Rentals Outbids H&E for Equipment-Rental Company Neff
United Rentals will buy regional equipment-rental company Neff
for about $600 million after knocking another equipment company out
of the bidding war.
Hormel Foods Buys Fontanini Brand Meats for $425 Million
Hormel has bought the Fontanini brand meat and sausage business
for $425 million.
Nielsen to Track Growing Clout of Esports
Nielsen Holdings PLC said it began measuring the financial value
of sponsoring videogame competitions and teams, the latest sign of
the rising interest in so-called esports.
Turner Sports to Launch Streaming Network to Air Champions League
Time Warner's Turner Sports is launching a streaming,
direct-to-consumer subscription service that will be a platform to
air soccer matches from UEFA's Champions League and Europa
League.
ZTE Chips Away at U.S. Smartphone Market
Chinese smartphone maker ZTE Corp. has nudged up its market
share in the U.S., as its affordable devices and aggressive
marketing chip away at the market's leaders.
(END) Dow Jones Newswires
August 17, 2017 13:15 ET (17:15 GMT)
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