News Highlights: Top Company News of the Day

Features Dow Jones Newswires

Higher Prices Boost PepsiCo Results

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PepsiCo said its second-quarter sales and earnings rose as the beverage and snack maker continued to offset weak demand in North America with higher prices.

Tesla Readies for Model 3 by Adding Repair Vans

As Tesla begins a launch of its first mass-market car, the company said it plans to triple its capacity to repair vehicles, adding 1,400 technicians, dozens of new service centers and hundreds of maintenance vans.

Consol Energy Files to Spin Off Coal-Mining Business

Consol Energy, one of the world's oldest coal miners, said its board has approved plans to spin off its coal business, cementing its identity as a natural-gas exploration and production company.

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Rent-A-Center Rejects Takeover Proposal; Stock Jumps

Rent-A-Center Inc. said it rejected an unsolicited takeover offer of $15 a share from activist investor Vintage Capital Management, calling it an "inadequate and opportunistic proposal."

Bertelsmann Makes Big Bet on the Old-Fashioned Book

Bertelsmann is upping its stake in Penguin Random House to 75%, giving the German media titan increased control over one of the top prizes in the book business.

Wanda to Lend Borrowed Billions to Sunac to Close Deal

Dalian Wanda's sale of its theme parks and hotels to developer Sunac China Holdings has an unusual twist: Wanda is helping Sunac finance almost half of the deal.

Merrill Lynch Loses $1 Billion Broker to Independent Ranks

Merrill Lynch has lost to the independent ranks a broker who managed $1 billion, as Wall Street's biggest brokerages continue to struggle with keeping top talent.

Stake Sale Helps Pearson Shore Up Balance Sheet

U.K. education firm Pearson said it will sell a 22% stake in publisher Penguin Random House to Germany's Bertelsmann, a move that helps CFO Coram Williams shore up Pearson's balance sheet following a series of missed earnings and a profit warning in January.

Microsoft's Rural Broadband Solution: TV 'White Space'

Microsoft plans to put its lobbying and financial muscle behind a long-shot technology that taps unused television bandwidth to bring broadband access to underserved areas of America.

Buffett's Berkshire Moves Away From Stock Picking

Warren Buffett's Berkshire Hathaway is relying less on stock picking for its future, as its latest energy bid signals.

(END) Dow Jones Newswires

July 11, 2017 11:15 ET (15:15 GMT)