BASF Results Miss Forecasts

BASF reported preliminary figures for 2023 that were below the company's guidance and consensus expectations, hit by write-downs and sales of lower-margin products. 


 
EU Commission Intends to Block Amazon's iRobot Acquisition

The European Union's competition watchdog is weighing the tech giant's $1.7 billion bid to purchase Roomba maker iRobot. 


 
One of Biden's Favorite Chip Projects Is Facing New Delays

Taiwanese chip maker TSMC expects to delay production at the second of two semiconductor plants it is building in Arizona. 


 
The Multibillion-Dollar Bet That Truckers Will Ditch Diesel for Electricity

Cummins, the leading maker of diesel engines in the U.S., and two truck makers, Daimler and Paccar, are teaming up on a $2 billion factory in Mississippi to make batteries for electric commercial trucks. 


 
Wendy's CEO Todd Penegor to Exit, PepsiCo Executive Kirk Tanner Named Successor

The fast-food chain said Penegor, who has served as CEO since 2016 and joined the company a decade ago, will leave in February. 


 
Spirit Airlines Explores Restructuring Options Following JetBlue Deal Collapse

Spirit is examining options to address its financial challenges after a federal judge blocked the low-cost carrier's deal to be acquired by JetBlue, according to people familiar with the matter. 


 
Macy's to Cut About 2,350 Jobs, Close Five Stores

Macy's plans to lay off about 13% of its corporate staff in a bid to trim costs and redirect spending toward improving customers' shopping experience. 


 
Drugmakers Raise Prices of Ozempic, Mounjaro and Hundreds of Other Drugs

The list prices of 775 brand-name drugs rose during the first half of January. 


 
Peltz Calls for Disney to Target 'Netflix-Like' Streaming Margins

The activist investor's Trian Fund Management is also pressing for clear succession planning and studio improvements. 


 
Humana Stock Crumbles as Forecast Cut on Higher Medical Costs

Humana expects fiscal 2023 adjusted earnings of about $26.09 a share, down from the company's prior estimates of $28.25.


(END) Dow Jones Newswires

01-19-24 0515ET