News Highlights: Top Company News of the Day

Features Dow Jones Newswires

Tesla Loss Widens But Beats Expectations

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Tesla second-quarter loss was narrower than analysts' expectations, buoying the Silicon Valley auto maker as it ramps up production for its first all-electric sedan designed for a mainstream audience.

Apple's Breakthrough Product: Services

Apple said services-the App Store, iTunes, Apple Pay, iCloud and more-generated more than $27.8 billion in revenue for the 12 months ended July 1.

Mondelez CEO Rosenfeld to Exit Amid Big Food Woes

Irene Rosenfeld is stepping down after 11 years as chief executive of Mondelez International, as the snack giant faces pressure to improve profitability amid an upheaval in the packaged food business.

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Insurers' Operating Incomes Rise

AIG posted better-than-expected operating results in its first quarter with Brian Duperreault at the helm, while competitor MetLife reported results for the last quarter before the spinoff of its historic core life-insurance unit.

Nearly $3 Billion Pulled From Hedge Fund Giant Och-Ziff

Investors pulled $2.9 billion over the past four months from the largest publicly traded U.S. hedge-fund firm, Och-Ziff, in another sign of trouble for the industry.

Symantec Sells Web-Certification Business to DigiCert

The cybersecurity firm said Wednesday it has agreed to sell its website-security business to DigiCert Inc., a deal in which Symantec will receive $950 million.

Boeing Nears Plane-Parts Deal With Supplier

Boeing is close to settling one of its thorniest supplier issues by provisionally agreeing on a long-term deal for plane parts with Spirit AeroSystems.

XPO Logistics May Spend Up to $8 Billion on Acquisitions

XPO Logistics is going on a spending spree, earmarking up to $8 billion for acquisitions and planning to nearly double the hubs in its last-mile delivery network, Chief Executive Bradley Jacobs said.

Wyndham to Separate Hotel, Timeshare Businesses

Hospitality group Wyndham Worldwide plans to separate its hotel and timeshare businesses into two publicly traded companies, following other large hotel corporations that also separated their timeshare businesses in recent years.

Chinese-Backed Company to Buy the Studio Behind 'Spotlight'

Tang Media Partners, a two-year-old company with major Chinese backers, is nearing a deal to buy Open Road Films, the production and distribution studio owned by the biggest movie-theater chains in the U.S., the companies said.

(END) Dow Jones Newswires

August 02, 2017 19:15 ET (23:15 GMT)