News Highlights: Top Company News of the Day - Thursday at 7 PM ET

Nike stock rises after quarterly results beat estimates, amid 'progress' on efforts to reignite better growth 
 

Shares of Nike Inc. rose after hours on Thursday, after the sneaker maker reported fiscal third-quarter results that beat expectations and management said it was "encouraged" by the company's efforts to focus on newer products and deliver better growth.

 
FedEx Stock Jumps After Earnings Beat. The Economy Still Isn't Helping. 
 

Investors got another quarter of success in controlling costs amid falling sales.

 
U.S. Sues Apple, Alleges Tech Giant Exploits Illegal Monopoly 
 

The Justice Department says iPhone maker leveraged its dominance to block software and limit functionality of competing devices.

 
Lululemon's stock drops on soft revenue forecast 
 
 
Mustafa Suleyman Brings Knowledge and Past Controversy as He Joins Microsoft's AI Effort 
 

The software giant is betting on the artificial intelligence pioneer's experience to bring the people and ideas it needs to stay ahead in the AI race.

 
Robinhood Co-Founder Bhatt To Step Down as Creative Chief 
 

Bhatt launched Robinhood with Vlad Tenev in 2013 and served as its co-chief executive until 2020, when he transitioned to chief creative officer.

 
Reddit Shares Soar in Long-Awaited IPO 
 

Reddit shares soared in their stock-market debut, an endorsement for the social-media company and a boost for other companies eyeing 2024 IPOs.

 
FTX Chief Accuses Bankman-Fried of Lying to Get Sentence Reduced 
 

John J. Ray III, the chief executive of FTX appointed to clean up the bankrupt crypto exchange's mess, said Sam Bankman-Fried falsely claimed there was zero harm to customers and investors in bid for lighter prison sentence.

 
Korean Air to Order Airbus A350 Jets in $13.7 Billion Deal 
 

South Korean flag carrier says the deal with the European plane maker is set to include 27 A350-1000s and six A350-900s , which it plans to deploy on routes such as Seoul to New York.

 
Nelson Peltz Wins Key Endorsement in Disney Battle 
 

Institutional Shareholder Services, the influential proxy-advisory firm, urged shareholders to vote in favor of adding the activist investor to the entertainment giant's board.

(END) Dow Jones Newswires

March 21, 2024 19:15 ET (23:15 GMT)

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