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News Highlights: Top Company News of the Day

07/22/2021 | 09:16pm EDT
Intel CEO Says Chip Shortage Could Stretch Into 2023 

It could take one or two years to get back to a reasonable supply-and-demand balance in the semiconductor industry, Pat Gelsinger said in an interview after Intel posted largely flat second-quarter sales and profit.

Magna to Acquire Auto-Safety Company Veoneer 

Magna International Inc. is planning to acquire automotive-safety-technology company Veoneer Inc. at an enterprise value of $3.3 billion.

Kakao Bank Set to Raise $2.2 Billion in Listing 

The digital bank affiliated with South Korea's internet group Kakao Corp. has finalized its initial public offering price at the top end of a marketed price range.

Snap, Twitter Show Where the Party Is 

Social media made a splash on Thursday as its second-quarter earnings kicked off: Both Twitter and Snap reported better-than-expected quarters.

Kaseya Gets Tool to Unlock Data After Ransomware Attack 

The tech company said it received a universal decryptor that would help restore all the computer systems affected by the July 2 hack of one of its products.

Snap Sees Strong User Growth as Pandemic Restrictions Ease 

The company has introduced new features to appeal to businesses beyond traditional social-media advertising, including a push into augmented reality.

Internet Outage Briefly Brings Down Websites 

Services provider Akamai Technologies reported a disruption that rippled across high-profile websites and cloud-computing operations, including those of Fidelity Investments and Oracle.

Amazon-Backed Rivian Automotive Plans Second U.S. Electric-Vehicle Factory 

EV startup Rivian Automotive plans to open a second manufacturing plant and is early in the process of scouting locations, the company said.

Warner Bros. to Make 10 Movies Exclusively for HBO Max 

The move comes as HBO and its enhanced streaming platform, HBO Max, prepare to lose access to films and TV shows from rival studios that are now keeping more of their content in-house.

Blackstone Earnings Rise as Growth Strategy Boosts Portfolio 

The private-equity firm posted second-quarter net income of $1.31 billion, or $1.82 a share. "The pivot into good neighborhoods has really paid off," Blackstone President Jonathan Gray said in an interview.

(END) Dow Jones Newswires

07-22-21 2115ET

Stocks mentioned in the article
ChangeLast1st jan.
AKAMAI TECHNOLOGIES, INC. 1.25% 110.13 Delayed Quote.3.50%
BLACKSTONE INC. -1.57% 125.1 Delayed Quote.96.10%
DJ INDUSTRIAL 0.10% 34798 Delayed Quote.11.93%
HILTON WORLDWIDE HOLDINGS INC. 0.74% 135.48 Delayed Quote.20.88%
INTEL CORPORATION 0.35% 54.22 Delayed Quote.8.45%
KAKAO CORP. 3.91% 119500 End-of-day quote.53.40%
MAGNA INTERNATIONAL INC. -0.81% 97.71 Delayed Quote.7.49%
S&P GSCI COCOA INDEX -0.80% 101.7675 Delayed Quote.0.35%
VEONEER, INC. 0.52% 34.86 Delayed Quote.62.82%
WISDOMTREE CLOUD COMPUTING UCITS ETF - ACC - USD -0.05% 59.96 Delayed Quote.12.72%
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