News Highlights: Top Company News of the Day
October 21 2019 - 5:15PM
Dow Jones News
Activist Investor Behind CSX Overhaul Sells Most of Its Stake
The activist that shook up CSX Corp. has wound down most of its
investment in the railroad operator, marking an end to a three-year
saga that helped spur a massive overhaul of the U.S. railroad
industry.
WeWork's Valuation Falls to $8 Billion Under SoftBank Rescue Offer
WeWork's board is expected to meet tomorrow to weigh
emergency-financing options including a takeover by SoftBank.
San Jose to Propose Turning PG&E Into Giant Customer-Owned Utility
The most populous city served by PG&E hopes to persuade
other cities and counties to line up behind the plan, which would
strip PG&E of its status as an investor-owned company and turn
it into a nonprofit, electric-and-gas cooperative.
Destination Maternity Files for Chapter 11
Destination Maternity, the world's largest maternity-apparel
retailer, filed for chapter 11 protection, the latest mall-based
retailer to succumb to declining sales and changing consumer
tastes.
Facebook to Identify State-Run Media
Facebook is taking more steps to protect the integrity of the
2020 U.S. elections, including clearer identification of state-run
media on its platform.
Boeing Shares Fall as Lawmakers, Regulators Press Company
Investors are selling off shares in Boeing as the plane
manufacturer was hit with downgroades and continues to face intense
questions from regulators and elected officials about its safety
practices and its grounded 737 MAX planes.
SAP Extends Cloud Partnership With Microsoft
SAP has extended a cloud-services partnership with rival
Microsoft, crediting it with driving sales.
Coty Wants to Shed Hair-Care, Beauty Brands
Cosmetics maker Coty Inc. is looking to sell its hair-care and
professional beauty businesses, a collection of brands that account
for nearly a third of its annual revenue.
Last-Minute Opioid Deal Could Open Door to Bigger Settlement
AmerisourceBergen, Cardinal Health, McKesson and Teva reached a
$260 million settlement to avoid a trial seeking to blame them for
fueling the opioid crisis.
Netflix Movies Could Use More Thumbs Up
Netflix is readying a box-office assault, but the streaming
giant could use fewer misfires.
(END) Dow Jones Newswires
October 21, 2019 17:00 ET (21:00 GMT)
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