Dollar General (DG) reported earnings and revenue that topped Wall Street’s expectations. The discount chain store posted a 2.6% climb in same-store sales and raised the low end of its profit guidance.
Campbell Soup (CPB) disappointed investors after reporting sales and profit that fell short of forecasts. Its full-year guidance also missed Wall Street expectations. The weaker-than-expected results come as the packaged-food industry struggles to boost sales amid changing consumer preferences.
Novartis (NVS) got US regulators’ approval for a new cancer therapy that will cost $475,000. The treatment, which will be used in children and young adults with a certain type of Leukemia, will be among the most expensive drugs of all time.
Disney (DIS) is in focus this morning following reports that it’s planning layoffs at its ABC Television Group. According to the Wall Street Journal, as many as 300 jobs will be eliminated in an effort to reduce costs by 10%. These cuts also follow staff reductions at its flagship sports channel ESPN earlier this year.