Verizon taps new CEO, Apple sends warning to suppliers, McDonald’s orders up exec cuts

Here’s a look at some of the companies the Yahoo Finance team will be watching for you today.

Verizon (VZ) is getting a new leader. Our parent company just announced current Chief Technology Officer Hans Vestberg will become CEO on August 1st. He’s replacing Lowell McAdam, who will remain as Verizon’s chairman. Vestberg says he aims to keep the company “at the forefront of technology, connectivity and mobility.”

Apple (AAPL) might be slowing down its iPhone ambitions. A Japanese report says Apple has warned its suppliers to expect a steep drop in iPhone orders for the second half of the year. The Nikkei newspaper says Apple only expects to ship 80-million new iPhones – down 20%. The company is expected to launch 3 new iPhone models later this year.

When it comes to management expenses, McDonald’s (MCD) execs aren’t loving it. So they plan to slash layers of managers in the coming year. It’s part of a half-billion-dollar cost cutting move. McDonald’s says the cuts will help make the company “more dynamic, nimble and competitive.”

Get ready to pay more for some pantry staples – from JM Smucker (SJM). The company behind that famous jelly, plus Folgers coffee and JIF peanut butter, says rising costs mean it has to hike prices on some foods. Last quarter’s earnings were disappointing, but the CEO says they’re transforming the business with a “sense of urgency.”

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