Dropbox earnings handily beat expectations, stock gains in late trading

Dropbox Inc. earned more cash from each user and grew its paying-customer base in the third quarter, according to a Thursday earnings report, as the company continued to narrow its losses and grow sales faster than Wall Street’s expectations. Shares of Dropbox DBX, -1.08% closed down 1.1% in Thursday trading and gained between 5% and 9% in immediate after-hours trading following […]

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P&G moves to streamline its structure

Procter & Gamble Co. said it would revamp its management structure, shrinking the number of business units from 10 to six and giving the heads of those products control over regional sales teams as well as some functions previously run by headquarters. The new organization, which will take effect next July, is part of a continuing effort by the maker […]

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Redfin shares fall after company offers weaker Q4 guidance

Shares of Redfin Corp. RDFN, -3.76% fell more than 9% in the extended session Thursday after the real-estate brokerage swung to a profit in the third quarter but guided for a weaker-than-expected fourth quarter. Redfin earned $3.5 million, or 4 cents a share, in the third quarter, versus a loss of $30 million, or 50 cents a share, in the […]

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Cisco and Amazon partner on hybrid-cloud approach

Cisco Systems Inc. is teaming up with Amazon.com Inc. to offer cloud-computing customers a hybrid-cloud solution that allows them to keep sensitive data and applications off remote servers. Cisco CSCO, +0.61% and Amazon AMZN, +0.77% announced the partnership Thursday morning, which will combine Cisco’s software and potentially hardware with AWS cloud-computing power. The system will use Kubernetes, open-source containerization software that allows […]

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CommScope To Acquire Arris International In About $7.4 Bln Deal, Incl. Debt

CommScope Holding Co. (COMM), a provider of infrastructure solutions for communications networks, said Thursday that it has agreed to acquire Arris International plc (ARRS) in an all-cash transaction for $31.75 per share, or a total purchase price of about $7.4 billion, including the repayment of debt. Arris International is a provider of entertainment and communications solutions. In addition, Carlyle Group […]

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Tate & Lyle profit drops 30%, backs guidance

Tate & Lyle PLC (TATE.LN) on Thursday reported a 30% fall in pretax profit for the first half of fiscal 2019, in line with expectations, and backed its full-year guidance. The ingredients and food-and-drink solutions company made a pretax profit of 113 million pounds ($148.4 million) for the half-year ended Sept. 30, compared with GBP161 million a year earlier, on […]

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Siemens rewards shareholders amid earnings hit

Siemens AG (SIE.XE) said Thursday that it will raise its dividend and launch a share buyback, even as charges from the restructuring of its power-and-gas business and the carve out of its train-making unit dragged down fourth-quarter earnings. The German conglomerate said net profit fell to 681 million euros ($780.2 million) from EUR1.28 billion a year earlier. Revenue edged up […]

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Solvay profit jumps thanks to higher pricing

Solvay SA’s (SOLB.BT) third-quarter earnings rose more than 50% as higher pricing offset rising raw-materials prices and unfavorable currency swings, it said Thursday. Net profit was 277 million euros ($317.4 million) for the July-to-September period compared with EUR179 million a year earlier. Sales climbed to EUR2.59 billion from EUR2.46 billion, the company said. Solvay attributed the higher profit to price […]

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Ford Smart Mobility Buys Electric Scooter-sharing Company Spin

Ford Motor Co. (F) announced Thursday that Ford Smart Mobility, LLC has acquired Spin, a San Francisco-based dockless electric scooter-sharing company that provides customers an alternative for first- and last-mile transportation. The financial terms of the deal were not revealed. Spin is a leading micro-mobility service provider, with operations in 13 cities and campuses across the U.S. Ford said the […]

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