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 Focus on Low Prices Brings in Customers

McDonald's pivot to cost-conscious customers is gaining traction, as the company reported that sales in restaurants opened at least 13 months rose 13% in the latest quarter, topping expectations.

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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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.

IPG Faces Declines in Third Quarter, Revises Outlook

Advertising holding company Interpublic Group of Cos. reported disappointing growth in the third quarter and lowered its outlook for the year

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.

Delphi to Buy Self-Driving Car Tech Startup for $450 Million

Delphi Automotive said it has agreed to buy a self-driving car tech startup for $450 million, boosting the automotive supplier's drive to bring autonomous vehicles to market by the end of the decade.

Lockheed Forecasts Modest Sales Gain for 2018

Lockheed Martin said it expected sales to grow around 2% next year, driven heavily by its flagship F-35 Joint Strike Fighter combat plane, as it reported quarterly earnings that fell just shy of expectations.

L.A. Times's New Chief Plots Changes and Woos a Beleaguered Newsroom

Ross Levinsohn, a 54-year-old media veteran whose resume includes stints at Yahoo and News Corp, is taking over the newspaper after a decade of leadership turnover and staff cuts.

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.

(END) Dow Jones Newswires

October 24, 2017 13:15 ET (17:15 GMT)