News Highlights: Top Company News of the Day
SoftBank to Take Control of WeWork
SoftBank has reached a deal to take control of WeWork that would
hand co-founder Adam Neumann nearly $1.7 billion and sever most of
his ties with the company.
McDonald's Falls Short on Profit
McDonald's same-store sales grew at 5.9% in the third quarter,
topping analyst expectations, as the burger chain reached for deals
and price increases to boost sales. However, profit fell short of
Lockheed Martin Guidance Falls Short
Lockheed Martin said Tuesday it expects slower sales growth next
year, with domestic budget headwinds and changing Pentagon
priorities clouding the outlook for defense contractors.
UBS Takes Restructuring Charge as Profits Fall
UBS said it would weather tougher banking conditions by
tightening up the focus of its investment bank and charging large
clients for deposits, as it posted a fall in third-quarter
P&G Posts Another Quarter of Strong Sales Gains
Procter & Gamble said sales rose across all of its business
lines in its latest quarter, as consumers continued to pay higher
prices for household goods despite slower global growth and worries
Under Armour Founder Kevin Plank Steps Aside as CEO
Kevin Plank, the founder and chief executive of Under Armour, is
stepping down as CEO, leaving the task of turning around the
sportswear maker to one of his lieutenants.
United Technologies Raises Profit Outlook
United Technologies raised its profit outlook for the year as it
recorded higher quarterly earnings and revenue.
Stronger U.S. Demand Bolsters Profit at UPS
United Parcel Service said stronger demand for next-day air
shipping in the U.S. boosted results in the third quarter, as
profit topped expectations.
UBS Eliminates Fees on Some Wealth Accounts
UBS will eliminate some fees on investment accounts sold through
its own U.S. financial advisers, opening up a new front in the
price war that has shaken up the money-management industry.
Biogen, Reversing Itself, to Seek FDA OK for Alzheimer's Drug
Biogen said it plans to pursue regulatory approval for
aducanumab, an investigational treatment for early Alzheimer's
disease, after pulling the plug on phase 3 studies of the drug
earlier this year.
(END) Dow Jones Newswires
October 22, 2019 09:15 ET (13:15 GMT)
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