• Philip Morris ceases all cigarette production at Greek facility, to make only smoke-free products March 21, 2018
    Philip Morris International Inc. said Wednesday it has ceased all cigarette production at the facility of its Greek affiliate Papastratos, which will now only produce HEETS, the tobacco units used with its smoke-free product IQOS. This follows the company's announcement a year ago that it was investing 300 million euro, which at the time was the equival […]
  • U.S. current account deficit jumps 26% in 4th quarter March 21, 2018
    WASHINGTON (MarketWatch) - The U.S. current-account deficit, a measures of the nation's debt to other countries, widened 26% in the fourth quarter. The deficit widened to $128.2 billion from a revised $101.5 billion in the third quarter. The U.S. recorded a larger deficit in goods such as oil and a smaller surplus in primary income. The current account […]
  • Facebook showing signs of 'systemic mismanagement,' says analyst March 21, 2018
    Pivotal Research Group analyst Brian Wieser reiterated his negative view of Facebook Inc. Wednesday, writing that the social-networking giant is "exhibiting signs of systemic mismanagement" following a series of security and public-relations issues involving user data, content moderation, and political advertising. Facebook shares are down 0.8% in […]
  • Match Group shares fall after analyst predicts upcoming lull March 21, 2018
    Shares of Match Group Inc. are down 1.2% in premarket trading Wednesday after an analyst at Guggenheim downgraded the stock to neutral. Guggenheim's Jake Fuller wrote that while Tinder Gold, a paid feature launched late last year, brought in a big wave of new paying members, he believes Match will see a "lull" until it introduces its next big […]
  • General Mills CEO 'disappointed' with profit, unveils cost cuts and revenue-boosting measures March 21, 2018
    General Mills Inc. said Wednesday it had net income of $941 million, or $1.62 a share, in its fiscal third quarter to Feb. 25, up from $357.8 million, or 61 cents a share, in the year-earlier period, boosted by a tax benefit from the December revamp. Adjusted per-share earnings came to 79 cents, a penny ahead of the FactSet consensus of 78 cents. Sales rose […]
  • Sears announces fresh debt moves that cut quarterly interest costs by $15 million March 21, 2018
    Troubled department-store chain Sears Holdings Corp. said Wednesday it has completed previously announced private offers to exchange some of its older bonds for fresh debt and reached agreement to amend the terms of other borrowings. The company, which has used a series of measures in recent years to reduce its debt burden, said about $214 million of old sen […]
  • Winnebago's stock surges after sales beat expectations March 21, 2018
    Shares of Winnebago Industries Inc. surged 3% in premarket trade Wednesday, after the recreational vehicle maker beat fiscal second-quarter revenue expectations, amid strength in its towable business. Net income for the quarter to Feb. 24 rose to $22.1 million, or 69 cents a share, from $15.3 million, or 48 cents a share, in the same period a year ago. The c […]
  • Southwest's stock falls after RASM outlook cut March 21, 2018
    Southwest Airlines Co. cut its outlook for first-quarter revenue per available seat mile (RASM) to be in line with a year ago from previous guidance of a 1% to 2% increase, primarily because the competitive fair environment continues to pressure passenger revenue yields and lower-than-anticipated travel demand from the timing of the spring-break holidays. th […]
  • Suspect in Austin bombings is dead: reports March 21, 2018
    A suspect in the Austin bombings is dead, according to reports early Wednesday from ABC affiliate KVUE and CBS Austin. Police were closing in on the male suspect when he killed himself by detonating an explosive device, the reports said. Austin's police department had been responding to an officer-involved shooting, according to the report from KVUE, an […]
  • HelloFresh buys U.S. meal-kit company Green Chef March 21, 2018
    HelloFresh SE shares rose 6.6% at the open on Wednesday after the German company late Tuesday said it has acquired privately-held U.S. organic meal-kit startup Green Chef. HelloFresh did not disclose the financial terms of the deal, but said the acquistion will drive synergies for operations, logistics and procurement. The company said it will add Green Chef […]