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Search resuls for: "Dean Seal"


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☆ Amazon Launches $5-a-Month Prescription Drug Plan in Further Healthcare Push
  + stars: | 2023-01-24 | by ( Dean Seal | Jennifer Calfas | ) www.wsj.com   time to read: 1 min
Amazon.com Inc. is launching a new benefit for Prime members that offers unlimited access to commonly prescribed generic medications for $5 a month, in the e-commerce giant’s latest move into healthcare. The subscription service, called RxPass, became available on Tuesday in most U.S. states through Amazon’s online pharmacy service.
☆ Johnson & Johnson Fourth-Quarter Earnings Down 25%
  + stars: | 2023-01-24 | by ( Dean Seal | ) www.wsj.com   time to read: 1 min
Johnson & Johnson, which is based in New Brunswick, N.J., has scaled back production of its Covid-19 vaccine. Johnson & Johnson reported a 25% drop in earnings and declining sales for the fourth quarter as demand dropped for its Covid-19 vaccine. The New Brunswick, N.J., healthcare-products company said Tuesday that revenue fell 4.4% to $23.71 billion on fewer vaccine sales and a stronger dollar, below analyst estimates of $23.9 billion, according to FactSet.
☆ Amazon Unveils Generic Prescription Drug Plan for Prime Members
  + stars: | 2023-01-24 | by ( Dean Seal | ) www.wsj.com   time to read: 1 min
Amazon .com Inc. is launching a new benefit for Prime members that offers unlimited access to commonly prescribed generic medications for $5 a month. The subscription service, called RxPass, became available on Tuesday in most U.S. states through Amazon’s online pharmacy service.
☆ Netflix Shares Rise as Content Drives Strong Subscriber Growth
  + stars: | 2023-01-20 | by ( Dean Seal | ) www.wsj.com   time to read: 1 min
Netflix Inc. shares rose Friday after the streaming company handily topped its own projections for subscriber gains for the fourth quarter, while analysts weighed the impact of its plans to crack down on password sharing and roll out an ad-supported plan. The streaming giant said after the bell on Thursday that it added 7.7 million new subscribers in the final quarter of the year, topping its own projections for 4.5 million new customers and pushing revenue 1.9% higher than in the same quarter a year ago.
☆ Prologis Says Warehouse Demand Remains Strong in Slowing Economy
  + stars: | 2023-01-20 | by ( Paul Berger | ) www.wsj.com   time to read: +3 min
Prologis Inc., the world’s largest developer of logistics properties, is bullish about warehouse demand this year despite signs of an economic slowdown. Executives at San Francisco-based Prologis said Wednesday they remain cautious about building new facilities as the economy wavers. But they said vacancy rates remain near record lows and that much of the leasing activity for this year is already secured or underway. Warehouse demand peaked last year, as average national vacancy rates plummeted to near 3% and reached close to 1% in Southern California. Average occupancy in Prologis’s owned and managed portfolio ticked up to 98% in the fourth quarter from 97.7% in the prior quarter.
☆ Hertz Chairman Exits, CEO Stephen Scherr to Replace Him
  + stars: | 2023-01-18 | by ( Dean Seal | ) www.wsj.com   time to read: 1 min
The Hertz Global Holdings Inc. chairman who helped lead the company through its postbankruptcy reorganization is stepping down and will be replaced by Chief Executive Stephen Scherr . The rental-car outfit said Greg O’Hara , the founder and senior managing director of Certares Management LLC, is stepping down after 18 months at the helm of the board. His firm and Knighthead Capital Management LLC jointly won control of the then-bankrupt company in 2021.
☆ Prologis Fourth-Quarter Revenue Soars Above Expectations While Earnings Slide
  + stars: | 2023-01-18 | by ( Dean Seal | ) www.wsj.com   time to read: +1 min
Prologis Inc. said revenue rose by more than a third in the fourth quarter as the average occupancy of its properties continued to edge higher, though earnings took a step back. The San Francisco-based industrial-property landlord posted earnings of $587.2 million, or 63 cents a share, compared with $1.25 billion, or $1.67 a share, in the same quarter a year ago. Analysts polled by FactSet had been expecting 61 cents a share. Core funds from operations, a measure of operating performance, came in at $1.24 a share, 2 cents above the analyst consensus, according to FactSet. PREVIEW Total revenue rose to $1.75 billion from $1.28 billion last year, topping analyst expectations of $1.42 billion.
☆ Disney Defends Board, CEO Robert Iger Against Nelson Peltz’s Criticisms
  + stars: | 2023-01-17 | by ( Erich Schwartzel | Dean Seal | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/disney-defends-board-ceo-robert-iger-against-peltzs-criticisms-11673971148
☆ Emerson Electric Bids to Buy National Instruments for Nearly $7 Billion
  + stars: | 2023-01-17 | by ( Dean Seal | ) www.wsj.com   time to read: 1 min
Emerson Electric Co. on Tuesday disclosed a nearly $7 billion offer to buy National Instruments Corp., which it has been trying to buy for more than eight months. Emerson Electric, a St. Louis-based technology and engineering company, said it was offering $53 a share in cash for National Instruments, giving it an enterprise value of $7.6 billion. The offer represents a 32% premium over National Instruments’ closing price from last Thursday, the day before it said its board was evaluating strategic alternatives and had already been approached by potential acquirers.
☆ Wendy’s to Revamp Operations as Consumers Tighten Spending
  + stars: | 2023-01-13 | by ( Heather Haddon | Dean Seal | ) www.wsj.com   time to read: 1 min
Wendy’s Co. said Friday that two executives were departing the burger chain amid a broader organizational overhaul that could include staff reductions and new investments. Trian Fund Management LP, Wendy’s largest shareholder, also said Friday that it was putting on hold its push for potential strategic alternatives for the company. The activist hedge-fund firm said in May that it intended to explore a potential transaction involving Wendy’s, either alone or with third parties, that could include an acquisition, merger or other deal.
☆ UnitedHealth Revenue Climbs as Premiums Rise
  + stars: | 2023-01-13 | by ( Dean Seal | Anna Wilde Mathews | ) www.wsj.com   time to read: 1 min
UnitedHealth is the first healthcare heavyweight to report earnings this season. UnitedHealth Group Inc. closed out 2022 with a fourth consecutive quarter of double-digit revenue growth as both premiums and medical costs continue to rise. The healthcare and insurance company said Friday that revenue rose 12% to $82.79 billion, topping analyst expectations of $82.48 billion, according to FactSet.
☆ Wendy’s Will Undergo Organizational Redesign
  + stars: | 2023-01-13 | by ( Dean Seal | ) www.wsj.com   time to read: 1 min
Wendy’s has doubled its dividend and increased its stock-buyback program. Wendy’s Co. announced on Friday the departures of two executives and changes to its leadership structure aimed at cutting administrative costs. Wendy’s also doubled its dividend and increased its stock-buyback program. Nelson Peltz , who leads Trian Fund Management LP, the restaurant chain’s largest shareholder, said Friday that the new capital-allocation strategy would support the company’s long-term growth plans.
☆ CFOs Ponder Their Pricing Power as the Economy Cools
  + stars: | 2023-01-09 | by ( Jennifer Williams-Alvarez | Dean Seal | ) www.wsj.com   time to read: +7 min
After a year of significant price increases, companies are trying to figure out how far they can go in 2023. However, pricing experts said, consumers and businesses will likely pull back on discretionary spending and will be less tolerant of price increases as they become mindful of their budgets. The Katy, Texas-based retailer takes an item-by-item approach to price increases. Customers haven’t balked at higher price tags, Ms. Huber said in late October. Still, the company said the aggressive price hikes in 2022 haven’t yet had a significant impact on consumers’ behavior.
☆ Rite Aid CEO Heyward Donigan Leaves Drugstore Chain
  + stars: | 2023-01-09 | by ( Dean Seal | ) www.wsj.com   time to read: 1 min
Rite Aid Corp. on Monday said that President and Chief Executive Heyward Donigan has left the drugstore chain, whose shares have been hovering near all-time lows as losses mount. The company tapped board member Elizabeth Burr as an interim CEO as it conducts a search for a new leader. Ms. Burr is a health industry veteran, having previously served as chief innovation officer at the health insurance giant Humana Inc.
☆ Bed Bath & Beyond Stock Plunges as It Warns of Potential Bankruptcy
  + stars: | 2023-01-05 | by ( Suzanne Kapner | Dean Seal | ) www.wsj.com   time to read: 1 min
Bed Bath & Beyond Inc. said Thursday there is substantial doubt the battered retailer can stay in business as it continues to struggle to keep shelves stocked and curb declining sales. Shares plunged more than 20% in morning trading after the company said that it is considering several options, including seeking relief in bankruptcy court. It said that sales for its third quarter are expected to fall by nearly a third and that losses are seen widening nearly 40% to $385.8 million.
☆ Conagra Raises Outlook as Higher Prices Continue to Lift Sales
  + stars: | 2023-01-05 | by ( Dean Seal | ) www.wsj.com   time to read: 1 min
Conagra, which makes Slim Jim meat snacks, said Thursday it was still working against inflated input costs. Conagra Brands Inc. expects higher sales and earnings for fiscal 2023 after the food company continued to raise prices to stave off inflation and supply-chain pressures. The Chicago-based maker of Healthy Choice frozen meals and Slim Jim meat sticks said revenue rose 8.3% to $3.31 billion in the quarter ended Nov. 27 thanks to price increases and a shift in the mix of products it sold.
☆ Bed Bath & Beyond Shares Plunge as It Explores Bankruptcy
  + stars: | 2023-01-05 | by ( Dean Seal | Suzanne Kapner | ) www.wsj.com   time to read: 1 min
Bed Bath & Beyond Inc. said Thursday that there is doubt about its ability to keep operations funded, as sales continue to fall amid inventory woes and flagging customer traffic at the battered retailer. Shares plunged more than 18% premarket after the company said that it is considering several options, including seeking relief in bankruptcy court. It said that sales for its third quarter are expected to fall by nearly a third and that losses are seen widening nearly 40% to $385.8 million.
☆ Airlines Cap Fares as Southwest Cancellations Continue
  + stars: | 2022-12-28 | by ( Dean Seal | Will Feuer | ) www.wsj.com   time to read: 1 min
Rival airlines have capped fares in some cities in response to an influx of last-minute bookings made after Southwest Airlines Co. scrapped thousands of flights during the past week. Southwest canceled more than 2,500 flights, or 62% of its scheduled departures, on Wednesday, according to data from FlightAware. Chief Executive Bob Jordan said Tuesday that the company plans to run a reduced schedule for the next few days as the airline repositions its staff and planes. The carrier has canceled close to 11,000 flights from Thursday through Tuesday as it has struggled to stabilize operations hampered amid the wintry weather.
☆ AMC CEO Adam Aron Asks Board for Salary Freeze in 2023
  + stars: | 2022-12-28 | by ( Dean Seal | ) www.wsj.com   time to read: 1 min
CEO Adam Aron won’t take a raise, but he did say AMC will increase pay for its hourly theater employees next year. AMC Entertainment Holdings Inc. Chief Executive Adam Aron has asked the company’s board to freeze his compensation in 2023 following a painful year for the theater chain’s share price. Mr. Aron said in a string of tweets Tuesday that he has asked the board to freeze his target cash and stock pay in 2023, saying he didn’t “want ‘more’ when our shareholders are hurting.”
☆ General Mills Raises Outlook on Higher Snack Sales
  + stars: | 2022-12-20 | by ( Dean Seal | ) www.wsj.com   time to read: 1 min
General Mills said it now expects stronger organic sales growth this year and higher adjusted earnings. General Mills Inc. raised its outlook for 2023 after the consumer foods company increased prices and reported a boost in sales for its snacks and baking products. The Minneapolis-based maker of Cheerios and Betty Crocker cake mix said sales rose 4% to $5.2 billion in its fiscal second quarter, driven by higher prices and positive shifts in the mix of products it sold. Volumes, meanwhile, fell 12%, with major drop-offs in its international and pet businesses.
☆ Cardinal Health Hires Finance Chief From Sysco
  + stars: | 2022-12-19 | by ( Dean Seal | ) www.wsj.com   time to read: 1 min
Cardinal Health Inc. has hired Aaron Alt, the chief financial officer of Sysco Corp. , to be its next finance chief. The Dublin, Ohio-based healthcare-products distributor said Monday that Mr. Alt will take over from Trish English, who has served as interim finance chief since August when then-CFO Jason Hollar was tapped as chief executive officer. Mr. Alt will succeed Ms. English on Feb. 10, the company said. Mr. Alt has been with Sysco since December 2020, according to his LinkedIn profile. He previously served as CFO for Sally Beauty Holdings Inc. and held senior executive roles at Target Corp. Write to Dean Seal at dean.seal@wsj.comCopyright ©2022 Dow Jones & Company, Inc. All Rights Reserved.
☆ Darden Sales Rise but Higher Costs Dent Profit
  + stars: | 2022-12-16 | by ( Dean Seal | ) www.wsj.com   time to read: 1 min
Olive Garden is one of Darden Restaurants’ two largest chains. Darden Restaurants Inc. said sales rose 9.4% in its latest quarter as diners continue to eat out, while profit edged lower as the restaurant company faced soaring costs for food and labor. The owner of Olive Garden, LongHorn Steakhouse and other sit-down restaurants on Friday also raised its guidance for its current fiscal year.
☆ Blue Apron Lays Off 10% of Corporate Workforce
  + stars: | 2022-12-08 | by ( Jaewon Kang | Dean Seal | ) www.wsj.com   time to read: 1 min
Blue Apron Holdings Inc. said it would lay off about 10% of its corporate workforce and cut spending, as the meal-kit company seeks to streamline operations. The job cuts are expected to cost about $1.2 million in severance payments and other expenses, the company said, and are part of as much as $50 million worth of reductions Blue Apron said it can make in 2023. The company’s shares, which are down about 90% this year, fell about 8% on Thursday.
☆ Campbell Soup Raises Outlook After Sales Rise 15%
  + stars: | 2022-12-07 | by ( Dean Seal | ) www.wsj.com   time to read: 1 min
The maker of Campbell’s soup and other products says it has been able to mitigate pressures from rising input and supply-chain costs. Campbell Soup Co. boosted its outlook after sales and profit rose at double-digit rates in its fiscal first quarter as the company kept raising prices to offset rising costs. The soup and snack maker said Wednesday that sales jumped 15% to nearly $2.6 billion in the quarter ended Oct. 30, topping analyst projections of $2.45 billion, according to FactSet. The top-line growth was once again driven by higher prices, though volumes, which have been shrinking as prices rise, fell 1%.
☆ Hertz to Pay $168 Million to Settle False-Arrest Allegations
  + stars: | 2022-12-05 | by ( Will Feuer | Dean Seal | ) www.wsj.com   time to read: 1 min
Hertz said it expects to recover a meaningful portion of the $168 million settlement amount from its insurance carriers. Hertz Global Holdings Inc. said it would pay about $168 million to settle 364 pending claims related to vehicle-theft reporting, some instances of which have allegedly led customers to face wrongful arrest for car theft. The hundreds of settlements resolve more than 95% of outstanding claims, Hertz said. The company said it doesn’t expect the settlement to have a material impact on its capital allocation plans for the balance of 2022 and 2023. The company also expects to recover a meaningful portion of the settlement amount from its insurance carriers.
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