Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Toshiba (TOSYY; TOSBF) is preparing to slash its operating profit forecast for the year through March to between $182M-$273M, about half the projection made in November, with growing costs in sectors like energy dragging down earnings from core operations, Nikkei Asian Review's Takehiko Hama reported. 2. Saudi Arabia's minister of state for foreign affairs said the kingdom had "absolutely nothing to do" with the National Enquirer's reporting on an extramarital relationship involving Amazon (AMZN) CEO Jeff Bezos, according to Reuters. This comes after Bezos accused American Media, the Enquirer's owner, of trying to blackmail him with the threat of publishing "intimate photos" he allegedly sent to his girlfriend unless he said in public that the U.S. tabloid's reporting on him was not politically motivated, the publication noted, adding that in a blog post, he alluded to Saudi Arabia's displeasure at the Bezos-owned Washington Post's coverage of the murder of its columnist and Saudi journalist Jamal Khashoggi. 3. Alibaba (BABA) has become a proxy for China's economy and market, which is sometimes good and sometimes bad for the stock, Steven Sears wrote in this week's edition of Barron's. The link mostly benefits Alibaba, but the stock has felt some pressure over the perennial fears that China's extraordinary economic growth would slow, with the U.S.-China trade exacerbating those concerns, the publication added. But long-term investors who can take advantage of short-term uncertainty should still favor Alibaba as the stock offers a way to profit from the rise of China's middle class and the nation's incredible promise, Sears said. 4. AT&T (T) subsidiary Warner Bros' "The Lego Movie 2: The Second Part" topped the box office chart with just $35M from 4,303 theaters. The movie also struggled overseas, launching to $18.2M from 63 markets for a global bow of $53.2M. "The Lego Movie 2: The Second Part" sports a 92% Rotten Tomatoes score. 5. Wabtec (WAB), Cardinal Health (CAH), CVS Health (CVS), Medtronic (MDT), Quest Diagnostics (DGX), Boeing (BA), Estee Lauder (EL) and M&T Bank (MTB) saw positive mentions in Barron's, while AT&T was mentioned cautiously.
