News Highlights: Top Company News of the Day
January 31 2023 - 6:30PM
Dow Jones News
Snap Warns of Sales Drop After Revenue Growth Stalls
Snapchat's parent company is struggling to revive growth amid
upheaval in digital advertising market.
Mondelez International 4Q Sales Climb on Higher Prices
Oreo maker forecasts 2023 revenue growth as it focuses on
chocolates, biscuits and baked snacks.
AMD's Profit Plunges Amid Weaker PC Sales
The chip maker reported a 98% decline in net income for the
fourth quarter as operating expenses more than doubled and sales
linked to its PC clients were cut in half.
J&J Faces Longer Path to Resolving Talc Lawsuits
The company's court loss over baby-powder litigation could force
it to defend thousands of lawsuits case by case, just as it
navigates the biggest restructuring in its 137-year history.
Event Software Company Cvent Explores Sale
The company has attracted interest from Blackstone Inc. and
others for a sale that could value Cvent at upwards of $4 billion,
according to people familiar with the matter.
GM's Profit Soars as Supply-Chain Problems Ease
The auto maker said it is investing $650 million in a mining
company to jointly develop a lithium-extraction project in
Nevada.
PayPal to lay off 7% of employees as part of cost-cutting push
Chief Executive Dan Schulman announced the layoffs, which will
affect about 2,000 PayPal employees, in an email to the staff
Tuesday afternoon.
Warner Bros. Discovery's DC Superheroes to Take On Marvel
DC Studio executives have outlined an ambitious slate of five
films and five new series based on DC Comics titles.
Celsius Used Customer Funds to Prop Up Token and Cover Shortfalls, Examiner Finds
Celsius Network used customer funds to cover shortfalls in its
obligations to pay lofty yields and to prop up the value of its CEL
token while some company insiders were cashing out, according to an
examiner's probe into the crypto lender's practices before its
collapse.
Exxon Vaults to Record Annual Profit of $55.7 Billion
Only Apple and Microsoft so far have surpassed Exxon's fiscal
2022 profit as the oil giant capitalized on high commodity
prices.
(END) Dow Jones Newswires
January 31, 2023 19:15 ET (00:15 GMT)
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