News Highlights: Top Company News of the Day
January 17 2020 - 6:15PM
Dow Jones News
Morgan Stanley Cuts CEO James Gorman's Bonus
Morgan Stanley paid its chief executive, James Gorman, $27
million for his work in 2019, a pay cut for a year when the bank's
revenue hit a record but its shares lagged behind those of
rivals.
Best Buy Opens Probe Into CEO's Personal Conduct
The board of Best Buy is investigating allegations that Chief
Executive Corie Barry had an inappropriate romantic relationship
with a fellow executive, who has since left the electronics
retailer.
Judge Slashes Damages in J&J Risperdal Case to $6.8 Million from $8 Billion
A judge reduced the amount of punitive damages Johnson &
Johnson must pay in a lawsuit over its antipsychotic Risperdal to
$6.8 million from the $8 billion awarded by a jury in October.
Boeing Encounters New MAX Woes
The plane maker has found a software problem that prevents the
737 MAX's computers from powering up prior to flight, a discovery
that could complicate the aircraft's return to service.
Disney Drops 'Fox' From Twentieth Century Name
The company renamed the Twentieth Century Fox movie studio,
which it acquired last year, making it Twentieth Century
Studios.
ThirdLove Takes on Victoria's Secret, but Faces Challenges
Startup ThirdLove is taking on Victoria's Secret by promoting a
more realistic body image and apparel more tailored to individuals,
but it faces challenges in a competitive sector.
J.B. Hunt Misses on Fourth-Quarter Earnings
The Lowell, Ark.-based company reported a 6% increase in
quarterly revenue, to $2.45 billion, compared with the same period
in 2018, and diluted earnings per share of $1.35, compared with 81
cents in 2018. Analysts had forecast diluted earnings per share of
$1.50, according to FactSet.
Trust Banks Have a Need for Spend
Core total revenue was stable at both State Street and Bank of
New York Mellon in the fourth quarter, but the big difference was
the expense outlook.
Airbnb to Tie Employee Bonuses to Guest Safety
Ahead of its plans to go public, Airbnb laid out a strategy that
emphasizes serving "stakeholders" that include hosts, guests,
investors, employees and the communities in which it does
business.
Walmart Shuffles Executive Ranks After Holiday Season
Walmart chief merchant Steve Bratspies is leaving the company as
the country's largest retailer shakes up its executive ranks
following the crucial holiday season.
(END) Dow Jones Newswires
January 17, 2020 19:00 ET (00:00 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.