News Highlights: Top Company News of the Day

Date : 07/16/2019 @ 11:30PM
Source : Dow Jones News

News Highlights: Top Company News of the Day

Mallinckrodt Halts Lou Gehrig's Disease Trial 

Drugmaker Mallinckrodt PLC said it is ending a midstage clinical trial looking at a possible treatment of amyotrophic lateral sclerosis, the paralyzing and fatal malady commonly known as Lou Gehrig's disease.

Profit Rises at United Even as 737 MAX Grounding Crimps Extra Flights 

United Airlines said it is trimming extra flying this year because of the grounding of Boeing's 737 MAX, though the nation's second-largest carrier by traffic still expects profits to climb.

Consumer Lending Powers Big-Bank Earnings, Upstaging Wall Street 

U.S. consumers are taking advantage of low interest rates to borrow and spend, boosting banks that cater to Main Street and leaving behind those that don't.

McDonald's DoorDash Deal Delivers Blow to Uber Eats 

DoorDash will start making deliveries from McDonald's restaurants in Houston later this month, a blow to Uber Technologies' deal to ferry the burger giant's food to customers in the U.S.

Pemex Seeks to Reverse 15-Year Decline in Oil Output 

Mexican state oil company Petróleos Mexicanos plans to ramp up investment with tax breaks and government support over the next three years to raise oil production that has been declining for the past 15 years.

Blue Apron's Beyond Meat Deal Lacks Substance 

The meal kit company said it would add plant-based proteins to some of its meals as part of a collaboration with Beyond Meat beginning in August. But for Blue Apron, this gold is likely to tarnish.

Facebook Questioned by Lawmakers on Its Libra Digital Currency 

Facebook was questioned by senators who said they don't trust the social-media giant to operate a global cryptocurrency, but its main challenge will be overcoming skepticism from global regulators.

Trucking Stocks Race Higher on J.B. Hunt's Good News 

America's trucking companies are revving up thanks to an upbeat report from J.B. Hunt Transport Services, signaling the transport sector could be turning a corner.

UAW Talks Open With Labor Costs Rising, Slowdown Looming 

After years of prosperity, car companies in Detroit are entering contract talks with the UAW this week. Their top concern is capping fast-rising labor costs ahead of a downturn in the U.S. auto industry.

Steve Cohen's Point72 Loses Long-Tenured Money Managers 

About 20 portfolio managers have left Steven A. Cohen's hedge-fund firm Point72 Asset Management this year, an unusual level of turnover.


(END) Dow Jones Newswires

July 16, 2019 19:15 ET (23:15 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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