News Highlights: Top Company News of the Day

05/17/19 07:15 PM EDT
Wynn Resorts Confirms Talks to Sell Boston-Area Casino to MGM 

Wynn Resorts and MGM Resorts International are in talks for Wynn to sell Encore Boston Harbor, its Boston-area casino project, to rival MGM.

CBS Floated Offer of About $5 Billion for Pay-TV Channel Starz 

CBS Corp. has had talks with Lions Gate Entertainment Corp. about acquiring its pay-TV channel Starz, according to people familiar with the matter.

Trian Nears Settlement with Legg Mason, Could Get Up to Four Board Seats 

Money manager Legg Mason is nearing a settlement with Trian Fund Management that would give the activist hedge fund three or four seats on its board and avoid a proxy fight, according to people familiar with the matter.

E-Cigarette Maker NJOY Falls Short of Funding Goal 

E-cigarette maker NJOY Holdings Inc., setting aside the lofty $5 billion valuation it had been seeking, has closed a funding round at a valuation of about $2 billion. The development nevertheless marks a turnaround for a vaping pioneer that filed for bankruptcy protection three years ago.

Google to Refund Advertisers After Suit Over Fraud Scheme 

Google has agreed to refund advertisers for ads purchased through its ad marketplaces that ran on websites with fraudulent traffic, following a lawsuit claiming the tech giant was withholding those back-payments, according to court documents and people familiar with the situation.

DoorDash Takes Aim at Nearly $13 Billion Valuation in New Funding Round 

Food-delivery startup DoorDash is raising a new round of financing that could value the company at close to $13 billion, according to people familiar with the situation.

Luckin Coffee Shares Jump in Market Debut 

Shares of Luckin Coffee jumped 20% in their trading debut as the Chinese coffee chain takes on Starbucks Corp.

Deere Says Trouble on the Farm Will Drag on Profits, Sales 

Deere & Co. lowered its profit and sales forecasts to reflect slackening demand for its tractors and planters, as trade disputes and bad weather weigh on U.S. farm incomes.

Hewlett Packard Enterprise to Buy Supercomputer Builder Cray 

Hewlett Packard Enterprise agreed to buy supercomputer maker Cray in a deal valued at about $1.4 billion, as part of efforts to invest in high-performance computing.

Amazon Invests in U.K. Food-Delivery Startup Deliveroo 

Amazon is investing in British food-delivery company Deliveroo, becoming one of the startup's biggest investors and giving it additional firepower against Uber Technologies' Uber Eats service.


(END) Dow Jones Newswires

May 17, 2019 19:15 ET (23:15 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.