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News Highlights: Top Company News of the Day

06/12/2020 | 01:16am EST
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.

 
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.

 
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.

 
Companies Make Big Pledges Toward Initiatives on Race 
 

Businesses ranging from tech titans Apple and Google to toy maker Hasbro announced new measures and big-dollar initiatives to promote racial justice, as company leaders race to show their commitment to change amid the national outcry stemming from George Floyd's killing.

 
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.

 
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.

 
Cathay Passenger Traffic Stayed Weak in May 
 

Cathay Pacific Airways Ltd.'s passenger traffic continued to be weak in May, dropping 99% on year, as the aviation industry bears the brunt of the Covid-19 restrictions that curbed business and leisure travel.

 
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.

 
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.

 
 

Stocks mentioned in the article
ChangeLast1st jan.
AMERICAN WATER WORKS COMPANY, INC. -0.81% 161.39 Delayed Quote.-14.55%
DOORDASH, INC. -7.75% 116.95 Delayed Quote.-21.46%
HERTZ GLOBAL -1.69% 8.74 End-of-day quote.0.00%
LETS HOLDINGS GROUP CO., LTD. -1.39% 7.08 End-of-day quote.-3.01%
LOOK HOLDINGS INCORPORATED 0.79% 1146 Delayed Quote.-5.99%
MAX CO., LTD. 0.95% 1807 Delayed Quote.-5.89%
META PLATFORMS, INC. -4.23% 303.17 Delayed Quote.-9.86%
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