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.


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