Good morning. MicroStrategy Inc. plans to continue investing in bitcoin despite recent declines in the value of the cryptocurrency asset and a call by U.S. securities regulators to revise its disclosure in future filings.

The Tysons Corner, Va.-based software company is one of a handful of companies with bitcoin holdings, alongside auto maker Tesla Inc. and payment company Square, which recently renamed itself Block Inc.

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MicroStrategy will continue buying bitcoin this year, Chief Financial Officer Phong Le said, though it is unclear if it would buy more than it did last year; the company has no plans to sell the asset. The company is also considering buying bitcoin-backed bonds if the market becomes more liquid, possibly in the next year or two, he said.

In letters made public last week, the Securities and Exchange Commission told MicroStrategy to revise the way it discloses its bitcoin holdings in future filings. MicroStrategy has been stripping out bitcoin volatility when using measures not defined under U.S. generally accepted accounting principles, or GAAP. Read more. 

• Bitcoin Bounces Back After Falling Below $33,000
• Stocks Rocket Back to Finish Higher After Deep Slump
• SEC Looks to Bolster Market’s Cyber Defenses

American Express Co., Lockheed Martin Corp., Microsoft Corp., NextEra Energy Inc., Texas Instruments Inc., and Verizon Communications Inc. are among the companies scheduled to release earnings today.

Freight rail operator CSX Corp. named Sean Pelkey as its next chief financial officer, elevating its interim finance chief to the permanent role.

The promotion takes effect immediately, CSX said Monday. Mr. Pelkey joined the Jacksonville, Fla.-based company in 2005 and served as vice president of finance and treasury  for about four years before he was named interim CFO in June. In his new role, he succeeds Kevin Boone, who currently serves as the company’s executive vice president of sales and marketing.

CSX last week said it earned $934 million during the fourth quarter, or 23% more than in the prior-year period.

“Sean has played an important role as a member of the CSX leadership team throughout our transformation,” James Foote, the company’s president and chief executive, said in a statement.

Mr. Pelkey wasn't available for an interview Monday, according to a spokeswoman.

—Kristin Broughton

Ford Motor Co. is taking the unusual step of cutting off customer orders for the Maverick, a more-affordable pickup that it rolled out last fall, saying it has maxed out on what it can build.

The move is a sign that American shoppers are hungry for more-affordable options as prices for new cars and trucks hit new records and availability remains constrained on dealership lots.

• Unilever PLC plans to cut thousands of jobs as part of a reorganization aimed at speeding up its decision making, according to a person familiar with the matter.
   
• Facebook Promised Poor Countries Free Internet. People Got Charged Anyway.

Tesla Inc. countersued JPMorgan Chase & Co., intensifying a dispute over the payout for a bond sale the bank helped arrange in 2014.

JPMorgan started the fight with a lawsuit in November, claiming it was owed around $162 million more for a set of warrants it had acquired as part of the bond sale.

• Alphabet Inc.’s Google deceived consumers by recording their location even after users tried to turn off the company’s tracking on their smartphones and web browsers, according to lawsuits by Washington, D.C., and three states.
   
• Convictions at Real-Estate Firm Are Win for Investor Kyle Bass
• Financier Involved in Insurance Fraud Died by Suicide, Coroner’s Report Says
• New EPA Rules to Target Power Plant Pollution

Rising infection rates driven by the faster-spreading Omicron variant of Covid-19 led to a U.S. and global economic slowdown as the year got under way, surveys of purchasing managers said.

The pullback was particularly pronounced in the U.S., where both the services and manufacturing sectors reported slower growth, according to surveys by data firm IHS Markit conducted in the first weeks of January.

• Workers Care More About Flexible Hours Than Remote Work

Mr. Janopaul most recently served as managing director of Servco Pacific Capital, the direct investment arm of automotive-services company Servco Pacific Inc.

L3Harris Technologies Inc., a Melbourne, Fla., aerospace and defense technology company, said Jay Malave has resigned as senior vice president and chief financial officer to pursue other opportunities. Michelle Turner, who succeeds him, most recently led finance for the enterprise supply chain at Johnson & Johnson.

Petropavlovsk PLC, a London-based gold miner, appointed Stanislav Ploshchenko as its new chief financial officer, effective immediately. Outgoing CFO Danila Kotlyarov will continue working for the company until Feb. 28, and then take on an advisory role to ensure a smooth transition, Petropavlovsk said.

Friday’s newsletter included a story about a report from the Conference Board, a research group, and Heidrick & Struggles, a recruitment firm, about the share of S&P 500 companies that last year disclosed information on climate risks. Esgauge, a data analytics firm, also contributed to the report.

Follow the CFO Journal team on Twitter: @CFOJournal, @kcbroughton, @markgmaurer and @Nina_Trentmann.

CFO Journal's bureau chief, Nina Trentmann, can be reached at nina.trentmann@wsj.com.