News Highlights: Top Company News of the Day

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AllianceBernstein's CEO, Independent Directors Ousted

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The French parent company of AllianceBernstein Holding fired the money manager's chief executive and all of its independent board members.

Valeant Pays Down $220 Million in Unscheduled Debt Payments

Valeant Pharmaceutical Industries Inc. said Monday it has made $220 million in unscheduled payments in the drug company's latest effort to reduce its multibillion-dollar debt.

Nintendo Shipped Switch Consoles by Plane to Meet High Demand

The company said it used aircraft to ship its new Switch videogame machine in its first month on the market in an effort to meet high demand, though the company went back to less-expensive sea freight in April.

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Miami Lawsuit Against Mortgage Lenders Survives High Court Review

The Supreme Court handed a partial victory to the city of Miami Monday, ruling it was authorized to bring lawsuits alleging Bank of America and Wells Fargo engaged in financial-crisis era discriminatory lending that led to urban blight and falling property values.

Pembina to Buy Veresen for $4.3 Billion

Pembina Pipeline agreed to buy Veresen for about $4.3 billion in a deal that combines two Canadian energy companies as prices stabilize.

Why Intel Paid a Premium for a Stake in Cloudera

Intel had strategic reasons for buying its stake in big-data software startup Cloudera three years ago-at a price that was about twice Friday's IPO pricing.

Drop in Canada's Bank Stocks Is Latest Trouble For This Deal

ISS told investors in PrivateBancorp that they should vote against the bank's proposed sale to Toronto-based Canadian Imperial Bank of Commerce, citing how Canadian bank stocks have dropped recently.

Nuverra Environmental Files for Bankruptcy Protection

Nuverra Environmental Solutions, Inc. filed for chapter 11 bankruptcy protection Monday, attempting to lock in a restructuring deal with senior lenders that will leave some unsecured creditors unpaid.

SpaceX Boosts U.S. Spy Satellite Into Orbit

Elon Musk's Space Exploration Technologies added another successful launch to its record Monday morning, but this time it carried a classified payload for the Pentagon's National Reconnaissance Office.

Apple's Cash Hoard Set to Top $250 Billion

Apple likely will report Tuesday that its cash hoard has topped a quarter of a trillion dollars-an unrivaled milestone that could ratchet up pressure on the tech giant to make splashier acquisitions or dole out more money to shareholders.

(END) Dow Jones Newswires

May 01, 2017 13:15 ET (17:15 GMT)