News Highlights: Top Company News of the Day

Features Dow Jones Newswires

Altice Revenues Rise in the Quarter

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Altice reported a rise in quarterly core operating profit, driven by a strong performance of its businesses in the U.S. that it is preparing for an IPO.

AIG Plans to Name Brian Duperreault as Next CEO

Insurance giant AIG plans to name Brian Duperreault-a onetime lieutenant to former CEO Maurice R. "Hank" Greenberg-as the firm's chief executive officer, with an announcement expected as soon as Thursday.

Verizon Wins Bidding War for Straight Path Communications

Verizon Communications to pay more than $3.1 billion for the wireless-spectrum holder, beating rival AT&T in an unusually intense bidding war, according to people familiar with the matter.

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Activist Investor Starboard Takes 5.7% Stake in Parexel International

The New York hedge fund wants the drug-research company to boost its operating margins and thinks it could attract significant interest from potential buyers, according to people familiar with the matter.

Crédit Agricole Profit Lifted by Fixed-Income Rebound

France's No. 2 listed bank by assets said its first-quarter net profit more than tripled, aided by the boom in bond trading that has lifted banks globally and a pickup in loan demand.

Workers at Exxon's Nigeria Unit Begin Walkout

Workers at Exxon Mobil's Nigerian unit have begun a gradual withdrawal from the company's oil-and-gas installations in a strike that threatens to shut down production of 660,000 barrels of oil a day, a union official said Wednesday.

Noble Shares Plunge to 14-Year Low on Profit Warning

Shares of embattled commodity trader Noble Group tumbled to a 14-year low early Thursday, as investors dumped the stock on news that the company will report a net loss in the first quarter.

Spiegel Speaks: Highlights of the Snap CEO's Quarterly-Call Debut

Evan Spiegel, the 26-year-old co-founder and CEO of Snap Inc., made his earnings-call debut on Wednesday moments after the company issued its quarterly report, which sent the stock sliding more than 23% in after-hours trading.

Snapchat Parent Posts Disappointing User Growth; Stock Plunges

Snap, in its first quarterly report as a public company, showed it struggled to maintain strong user growth at its Snapchat vanishing-messaging app, sending shares tumbling and sparking worries about its ability to challenge social-media titan Facebook.

FDA Approves Combining Merck's Keytruda With Chemotherapy

U.S. health regulators approved expanding the use of Merck's cancer drug Keytruda to include adding it to chemotherapy to treat lung cancer, broadening the drug's potential market though evidence for the combination's benefit is mixed.

(END) Dow Jones Newswires

May 11, 2017 03:15 ET (07:15 GMT)