News Highlights: Top Company News of the Day
FedEx Takes Earnings Hit Following Cyberattack
FedEx said a cyberattack earlier this year dented earnings in its first quarter by roughly a third, prompting the package delivery giant to cut its profit forecast for the rest of the fiscal year.
Walgreens Finally Gains Approval for Rite Aid Deal
Walgreens Boots Alliance received regulatory approval for its deal to buy nearly 2,000 stores from Rite Aid but only after the number of stores to be purchased was again trimmed to allay antitrust concerns.
Ford Trims Production at Five Plants as U.S. Sales Slow
Ford Motor Co. said it would temporarily idle production lines at five North American plants, including three in the U.S., the latest in a series of moves by U.S. auto makers to cope with slowing vehicle sales and rising industry capacity.
Fiat Chrysler Recalls Nearly a Half-Million Trucks on Fire Risk
Fiat Chrysler issued a recall for nearly a half-million Ram pickup and work trucks to fix faulty pumps that could cause overheating and engine fires.
Bed Bath & Beyond Shares Fall After Missing Profit Estimates
Shares of Bed Bath & Beyond fell 13% to $23.62 after hours Tuesday after the home goods retailer slashed its full year outlook and widely missed earnings and sales expectations in its second quarter.
Best Buy Sets Five-Year Plan for Sales and Cost-Cutting
Best Buy Co. set a modest sales forecast for the next five years and said it won't cut costs as deeply as it has in years past, a shift it said focuses on long-term growth and investments.
Boeing 'Unlikely' to Deliver First Tanker in 2017
Boeing is unlikely to meet its target of delivering the first of a new fleet of aerial refueling tanker jets by the end of the year, according to a person familiar with the military program.
Toys 'R' Us Bankruptcy Poses Challenge for Toy Makers
The bankruptcy filing of Toys 'R' Us ends weeks of uncertainty for the toy industry while creating a new challenge for toy makers just ahead of the busy holiday season.