News Highlights: Top Company News of the Day
October 23 2018 - 11:15AM
Dow Jones News
Higher Prices for Burgers Help McDonald's Sales
McDonald's is still struggling to attract more U.S. customers
but it eked out higher sales this quarter by charging more for its
food.
Verizon Adds Phone Customers But Oath Revenue Weakens
Verizon Communications added to its pool of wireless phone
subscribers in the third quarter while pressing forward with its
bet that it is better to focus on building a faster network than
trying to own the content that flows through it.
Caterpillar Pushes Profit Higher
Caterpillar reported higher profit thanks to price increases and
rising sales, offsetting higher costs to make and ship its
machinery due in part to metal tariffs.
3M Trims Earnings Forecast as Sales Sputter
3M lowered its earnings forecast for the year after it reported
slower sales growth across most of its business lines in the third
quarter.
United Tech Raises Targets, Waits on Rockwell Merger
United Technologies sought to reassure investors that its core
businesses are performing well even as the company's $23 billion
takeover of Rockwell Collins hangs in regulatory limbo.
Lockheed Martin Eyes Higher Sales
Lockheed Martin said its sales growth will accelerate next year
even as defense industry analysts said 2019 could mark a peak for
domestic military spending.
GAM Leaks Billions After Fund Manager Suspension
The turmoil surrounding GAM Holding deepened as the Swiss money
manager said investors pulled more than 20% of assets from its
funds following the suspension of a star bond manager this
summer.
Investor Disquiet at Nestlé Grows Beyond Activist Third Point
Nestlé's chairman is facing mounting opposition from
shareholders who say the former chief executive isn't helping his
successor's efforts to reinvigorate growth at the world's largest
packaged-foods maker.
Harley Recalls 238,300 Bikes
Harley-Davidson said it was recalling 238,300 recent-model
motorcycles world-wide due to a clutch issue, an effort that will
weigh on earnings this quarter.
Aqua America to Buy Pennsylvania Gas Company
Water utility Aqua America said it is buying a group of
Pittsburgh-based natural-gas companies from an investment firm for
about $3 billion in cash.
(END) Dow Jones Newswires
October 23, 2018 11:00 ET (15:00 GMT)
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