News Highlights: Top Company News of the Day

Features Dow Jones Newswires

U.S. Auto Sales Fall as Fewer Vehicles Go to Rental Chains

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Auto sales continued to slide in June, as car buyers react to higher vehicle prices and Detroit backs away from dumping unwanted inventory into rental-car lots.

Group Led by Greystar Nearing Deal to Buy Monogram

An investment group led by Greystar Real Estate Partners LLC is nearing a deal to buy Monogram Residential Trust Inc., according to people familiar with the matter.

GE's Baker Hughes Deal Deepens Its Stake in Energy

General Electric closed its deal to combine its long-suffering energy business with Baker Hughes, creating one of the largest companies in the oil-field services industry.

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Danone to Sell Stonyfield to Lactalis for $875 Million

French dairy company Danone said it entered a binding agreement to sell its U.S. dairy business, Stonyfield, to Lactalis for $875 million to address U.S. competition concerns.

Bankrate to be Acquired by Marketing Firm Red Ventures

Red Ventures LLC said Monday it has agreed to buy personal finance website operator Bankrate Inc. in a $1.24 billion all-cash deal, as it seeks to expand its presence in the financial-services industry.

Tesla's Sales Crimped by Shortage of Battery Packs

Tesla said vehicle sales in the second quarter rose about 53%, but that it couldn't produce enough to meet demand because of a shortage of battery packs. Chief Executive Elon Musk also signaled an even tighter timetable for ambitious plans to produce its new Model 3 sedans.

Jana Takes Roughly 5% Stake in EQT

Jana Partners has taken a roughly 5% stake in EQT Corp. and is seeking to scuttle the energy company's proposed $6.7 billion acquisition of Rice Energy.

Fox Sports Fires Head of Programming

Fox Sports has fired Jamie Horowitz, one of its most senior executives, amid a probe into sexual harassment allegations, according to a person familiar with the matter.

Total Plows Into Iran, Leaving Shell, BP on Sidelines

The $1 billion pledged by French oil giant Total in an Iranian gas field is a breakthrough for the resource-rich country, but it is unlikely to unleash a flood of foreign energy-industry investment.

CMA CGM Sells Los Angeles Container Terminal

French containership operator CMA CGM said it reached a deal to sell a 90% stake in its Los Angeles container terminal to two Swedish infrastructure firms for $817 million.

(END) Dow Jones Newswires

July 03, 2017 19:16 ET (23:16 GMT)