News Highlights: Top Company News of the Day
October 22 2019 - 10:15AM
Dow Jones News
Facebook's Zuckerberg to Face Congressional Grilling
Mark Zuckerberg is set to appear before the House Financial
Services Committee in a hearing focused on Facebook's libra
cryptocurrency plans. Lawmakers also are expected to ask about
potential discrimination in how the company handles housing and
credit-related advertising.
Verizon to Offer Free Disney+ as Streaming Wars Heat Up
Verizon Communications said it would give wireless customers on
unlimited data plans a year of free access to Disney+, giving the
new streaming entrant a huge potential boost before its Nov. 12
launch and scrambling the cellphone market.
SoftBank to Take Control of WeWork
SoftBank has reached a deal to take control of WeWork that would
hand co-founder Adam Neumann nearly $1.7 billion and sever most of
his ties with the company.
McDonald's Falls Short on Profit
McDonald's same-store sales grew at 5.9% in the third quarter,
topping analyst expectations, as the burger chain reached for deals
and price increases to boost sales. However, profit fell short of
analyst estimates.
P&G Posts Another Quarter of Strong Sales Gains
Procter & Gamble said sales rose across all of its business
lines in its latest quarter, as consumers continued to pay higher
prices for household goods despite slower global growth and worries
about tariffs.
Lockheed Martin Guidance Falls Short
Lockheed Martin said Tuesday it expects slower sales growth next
year, with domestic budget headwinds and changing Pentagon
priorities clouding the outlook for defense contractors.
UBS Takes Restructuring Charge as Profits Fall
UBS said it would weather tougher banking conditions by
tightening up the focus of its investment bank and charging large
clients for deposits, as it posted a fall in third-quarter
profit.
Under Armour Founder Kevin Plank Steps Aside as CEO
Kevin Plank, the founder and chief executive of Under Armour, is
stepping down as CEO, leaving the task of turning around the
sportswear maker to one of his lieutenants.
United Technologies Raises Profit Outlook
United Technologies raised its profit outlook for the year as it
recorded higher quarterly earnings and revenue.
Stronger U.S. Demand Bolsters Profit at UPS
United Parcel Service benefited from a continued surge in
overnight air shipments in the third quarter, as speedy next-day
delivery increasingly becomes the standard for online orders.
(END) Dow Jones Newswires
October 22, 2019 11:00 ET (15:00 GMT)
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