News Highlights: Top Company News of the Day
October 20 2021 - 10:15AM
Dow Jones News
Exxon Debates Abandoning Some of Its Biggest Oil and Gas Projects
Members of the company's remade board of directors are
questioning several major investments as the company reconsiders
its investment strategy in a fast-changing energy landscape.
Blackstone Buying Majority Stake in Spanx
The deal values Spanx at $1.2 billion. Spanx founder Sara
Blakely will maintain a significant stake in the company and
continue to oversee operations.
Facebook Fined $70 Million in U.K. Over Giphy Merger Breach
The U.K.'s competition regulator said Facebook had failed to
provide required updates outlining its compliance with an interim
order the watchdog imposed in 2020, as part of its review of its
proposed takeover of Giphy, a provider of animated images for use
in social media.
Biogen's New Alzheimer's Drug Meets Slow Rollout
The drugmaker's revenue from the drug, Aduhelm, was $300,000 in
the first full quarter since its approval, a figure well below
analyst expectations. Sales could be minimal through the end of the
year, the company said.
Verizon's Earnings Topped Estimates. Its Stock Is Rising.
The telecom giant showed improving subscriber growth numbers for
a second quarter, as well as progress in moving customers to more
expensive plans in the 5G era.
Novavax Shares Plunge on Report of Covid-19 Vaccine Manufacturing Problems
A report in Politico said the pharmaceutical company was having
difficulties manufacturing a Covid-19 vaccine that met regulators'
quality standards.
Nestlé Sales Buoyed by Coffee, Pet Food
The Swiss company's upbeat quarter provides an early sign that
consumer habits acquired during the pandemic, such as drinking more
and better quality coffee at home, could continue to benefit it,
despite the ongoing challenges of rising input costs and
supply-chain snags.
Cushman & Wakefield to Buy 40% Stake in Greystone Multifamily Business
The commercial real estate services giant has agreed to pay $500
million for a 40% stake in the rental apartment lending and loan
servicing business owned by Greystone, the latest sign of the
strength of the rental apartment industry.
Abbott Labs Earnings Beat Estimates. Its Stock Is Rising.
Abbott reported an adjusted profit of $1.40 a share, beating
forecasts for $0.94 a share.
GM CFO Takes Steps to Help Auto Maker Achieve Its 2030 Goals
General Motors' finance chief is working to build out the
company's forecasting and planning capabilities to help the car
maker achieve its long-term goals and better explain its business
transformation to investors.
(END) Dow Jones Newswires
October 20, 2021 11:00 ET (15:00 GMT)
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