News Highlights: Top Company News of the Day

Features Dow Jones Newswires

GM, Fiat Chrysler Shares Climb As Investors Focus on Future

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Shares in GM and Fiat Chrysler rallied Tuesday even as conditions in the core U.S. auto industry soften, the latest sign Wall Street is willing to give Detroit credit for using a string of record profits to reduce debt and sharpen focus on future technology.

McDonald's Profit Rises, Refranchising Drive Dents Revenue

McDonald's Corp.'s pivot to cost-conscious customers is gaining traction,

WeWork Venture to Buy Lord & Taylor's Flagship Store

Real-estate startup WeWork has struck a deal to acquire Lord & Taylor's flagship New York City store for $850 million, a move that will convert the landmark building into the startup's headquarters next year.

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Eli Lilly Exploring Elanco Spinoff

Eli Lilly said it could spin off or sell its animal health business, a segment that contributed 15% of the pharmaceutical company's revenue last year but has been pressured by competition.

Sears Stops Selling Whirlpool Appliances

Sears will no longer sell Whirlpool appliances after a pricing dispute and changing market dynamics fractured a partnership that stretched back more than a century.

Caterpillar on Track to Break Sales Slump

Caterpillar raised its sales and profit forecast for the year amid rising demand for construction and mining equipment, partly helped by an improving energy industry.

Lockheed Forecasts Modest Sales Gain For 2018

Lockheed Martin said Tuesday that it expected sales to grow around 2% next year as it reported quarterly earnings that fell just shy of expectations.

International Paper, Graphic Packaging Combine Packaging Businesses

International Paper Co. said Tuesday that it had agreed to combine its North America consumer-packaging business with Graphic Packaging Holding Co. in a transaction valued at $1.8 billion.

United Technologies Mum on Rockwell Collins as It Raises Outlook

United Technologies Corp. on Tuesday said revenue rose 5% in its latest quarter, and raised its full-year profit outlook as the industrial conglomerate reported its best quarter of organic growth since 2011.

Pritzker Group Plans to Raise $1.5 Billion for New Private-Equity Fund

The investment firm of wealthy Chicago brothers J.B. Pritzker and Tony Pritzker is attempting to raise $1.5 billion for a new private-equity fund.

(END) Dow Jones Newswires

October 24, 2017 11:15 ET (15:15 GMT)