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News Highlights: Top Company News of the Day

06/11/2020 | 09:16pm EST
Lululemon Posts Sharp Drop in Sales 

Lululemon's sales fell sharply in the last quarter as U.S. and European stores were closed amid the coronavirus pandemic and as surging online sales weren't enough to offset the decline.

DoorDash Nears Deal to Secure Funding From T. Rowe Price, Fidelity, Others 

DoorDash Inc. is close to securing new funding that would value the largest U.S. meal-delivery company at more than $15 billion before the infusion, as a wave of deal making sweeps over the red-hot industry.

Twitter Takes Down Chinese Government-Linked Accounts It Says Pushed Propaganda 

The social media platform said it removed about 174,000 accounts that it labeled as fake and operated by China to promote its narratives about the coronavirus, Hong Kong protests and other topics.

Bankrupt Hertz Wants to Sell Up to $1 Billion in New Shares 

Rental-car company Hertz Global Holdings wants to capitalize on the rally in its stock seen earlier this week by selling up to $1 billion in shares, despite a bankruptcy that threatens to wipe them out.

Nestlé Explores Sale of Majority of North American Water Brands 

Nestlé SA is exploring a sale of the majority of its North America waters business, including brands like Poland Spring and Pure Life, as the world's largest bottled-water maker tries to adapt to shifting consumer tastes.

Apollo Sues Serta Simmons and Owner Advent Over Debt Dispute 

Apollo Global Management is suing private-equity firm Advent International in a dispute over how to financially restructure Serta Simmons Bedding LLC, the country's largest mattress maker, which Advent owns.

Boeing Supplier Freezes 737 MAX Work 

Boeing has told its biggest supplier, Spirit AeroSystems Holdings, to freeze its recently resumed production of parts for the 737 MAX to prevent creating a glut of new jets for airlines during the coronavirus pandemic.

Zuckerberg Lieutenant Returns to Facebook, a Year After Departure 

Former top Facebook Inc. deputy Chris Cox is returning to the social-media giant, just over a year after leaving amid disagreements with CEO Mark Zuckerberg over the company's direction.

Microsoft Won't Sell Facial-Recognition Tools to Police Absent National Rules 

The company joined calls by other big tech names including Amazon and IBM for clearer regulation of the surveillance technology amid widespread concern about its potential for racial bias.

Apple, YouTube Each Plan $100 Million Initiatives to Target Racism 

The iPhone maker pledged to invest in education and criminal-justice reform and the Google unit vowed to amplify 'the voices of black creators and artists.'


Stocks mentioned in the article
ChangeLast1st jan.
AMERICAN WATER WORKS COMPANY, INC. 0.39% 156.15 Delayed Quote.-17.64%
DOORDASH, INC. -5.30% 96.09 Delayed Quote.-31.85%
LETS HOLDINGS GROUP CO., LTD. -3.85% 6.5 End-of-day quote.-10.96%
LOOK HOLDINGS INCORPORATED 2.64% 1205 Delayed Quote.-0.33%
MAX CO., LTD. 0.85% 1767 Delayed Quote.-7.55%
META PLATFORMS, INC. 0.00% 294.64 Delayed Quote.-12.40%
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