News Highlights: Top Company News of the Day
July 19 2018 - 11:30AM
Dow Jones News
Comcast Drops Bid for Fox Assets, Will Pursue Deal for Sky
Comcast said it was dropping its pursuit for most of 21st
Century Fox, ending a bidding war with Walt Disney, but said it
would continue its pursuit of European pay-TV giant Sky PLC.
Wells Fargo's Latest Challenge: Refunds for Pet Insurance, Legal Services
Wells Fargo is in the process of refunding tens of millions of
dollars for products ranging from pet insurance to legal services
added to hundreds of thousands of customers' accounts without their
full understanding.
Goldman Sachs, Once Closed to Outsiders, Is on a Hiring Spree
Goldman Sachs has brought in 15 outsiders at the elite rank of
partner over the past year, the biggest influx of senior executives
in two decades.
Saudi Aramco in Talks to Buy Stake in Petrochemical Firm
Saudi Aramco said it's in early talks to buy a stake in one of
the world's largest petrochemical companies, an acquisition that
would boost the state-run oil giant's downstream operations.
Blackstone's Profit Climbs as PE Portfolio Surges
Blackstone reported a sharp jump in second-quarter profit as the
value of its private-equity portfolio surged.
Medical Testing Giant LabCorp Hit by Ransomware Attack
The medical-testing giant Laboratory Corp. of America is dealing
with a broad cyberattack, people familiar with the matter said, the
latest breach to disrupt companies that hold sensitive
information.
Philip Morris Cuts Sales, Earnings Targets
Philip Morris International Inc. lowered its forecast on
earnings and sales as it has faced weaker-than-expected demand for
IQOS, its smoke-free electronic-cigarette device in global
markets.
Higher Catastrophe Losses Weigh on Travelers's Bottom Line
Travelers Cos. reported record net written premiums in its
second quarter but its earnings fell as several weather-related
catastrophes and fires at commercial properties dented its bottom
line.
Barclays Poaches Senior Health-Care Banker From Deutsche Bank
Barclays poached a senior investment banker from Deutsche Bank
to bolster its coverage of European health care as deals such as
Takeda Pharmaceutical's $62 billion pact to acquire Shire highlight
the opportunity for deal making in the sector
Danaher to Spin off Dental Business
Danaher said it plans to spin off its dental segment into an
independent, publicly traded company. The science and technology
company also reported better-than-expected second-quarter
earnings.
(END) Dow Jones Newswires
July 19, 2018 11:15 ET (15:15 GMT)
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