News Highlights: Top Company News of the Day

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06/11/2019 | 11:15 pm
William Ackman

United Technologies-Raytheon Merger Is a Red Flag for Defense Stocks

Activist shareholder William Ackman is right to worry that the deal has little strategic logic.

99 Cents Only Stores Strikes Deal With Sponsors, Creditors

Private-equity owners Ares Management Corp. and the Canada Pension Plan Investment Board have engineered two debt restructuring pacts in as many years for the discount retailer they purchased in 2012.

Tesla Shareholders Reject Corporate-Governance Measures

Tesla Inc. shareholders rejected changes at the electric-car maker aimed at improving corporate governance.

Ackman Opposes United Technologies-Raytheon Deal

William Ackman, a big United Technologies shareholder who earlier pushed the industrial giant to streamline its business, is now urging the company to call off its planned megamerger with Raytheon, which he says makes no strategic sense.

Dave & Buster's Misses Expectations, Lowers Guidance

Dave & Buster's Entertainment reported lower-than-expected earnings and sales for its first quarter, and the company trimmed its revenue and profit guidance for the year. Shares fell 16% in after-market trading.

Tax Prep Giant H&R Block Rides the Wave

Shares of preparation company H&R Block jumped, on course to notch one of its biggest one-day gains of the year.

T-Mobile, Sprint Merger Challenged by States

A group of state attorneys general filed a lawsuit to block the proposed merger of T-Mobile and Sprint, a highly unusual challenge that comes as federal antitrust officials are still reviewing the more than $26 billion deal.

Wells Fargo's Top CEO Candidates Take Pass on Post

Wells Fargo is having trouble getting top bankers interested in its open CEO job. Two top candidates have said they aren't interested.

Foxconn Prepared to Move Apple Production Out of China if Necessary

Taiwan's Foxconn Technology said it is ready to shift production for Apple out of China if necessary, as the electronics assembler tries to assuage investors' concerns over the U.S.-China trade conflict.

Neiman Marcus Offers More Discounts to Stay Competitive

Neiman Marcus reported a wider net loss and lower revenue for the latest quarter as the department-store owner faced lower same-store sales.

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