News Highlights: Top Company News of the Day

Date : 10/22/2019 @ 1:30PM
Source : Dow Jones News

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 analyst estimates.

 
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 profit.

 
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 about tariffs.

 
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)

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


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