News Highlights: Top Company News of the Day

Date : 10/22/2019 @ 3:15PM
Source : Dow Jones News

News Highlights: Top Company News of the Day

Facebook's Zuckerberg to Face Congressional Grilling 

Mark Zuckerberg is set to appear before the House Financial Services Committee in a hearing focused on Facebook's libra cryptocurrency plans. Lawmakers also are expected to ask about potential discrimination in how the company handles housing and credit-related advertising.

Verizon to Offer Free Disney+ as Streaming Wars Heat Up 

Verizon Communications said it would give wireless customers on unlimited data plans a year of free access to Disney+, giving the new streaming entrant a huge potential boost before its Nov. 12 launch and scrambling the cellphone market.

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.

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.

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.

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 benefited from a continued surge in overnight air shipments in the third quarter, as speedy next-day delivery increasingly becomes the standard for online orders.


(END) Dow Jones Newswires

October 22, 2019 11:00 ET (15:00 GMT)

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

Your Recent History
Gulf Keyst..
FTSE 100
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.