News Highlights: Top Company News of the Day

Date : 02/25/2020 @ 2:30AM
Source : Dow Jones News

News Highlights: Top Company News of the Day

Shake Shack's Customer Traffic Weakens 

The hamburger chain struggled to draw in customers in its latest quarter and warned sales growth might decline next year.

Drugmaker Ships First Experimental Coronavirus Vaccine for Human Tests 

Moderna has shipped the first batch of the company's rapidly developed coronavirus vaccine to researchers at the National Institute of Allergy and Infectious Diseases.

HP to Buy Back $15 Billion in Stock to Battle Xerox Takeover Bid 

HP pledged to buy $15 billion worth of stock, with at least $8 billion of that in the first year, to tackle a hostile takeover bid from Xerox. HP also reported first-quarter results and raised profit projections for the year.

Boeing Nominates Two New Board Directors 

The aircraft maker is looking to add two outside directors with safety and engineering experience amid scrutiny of the board's oversight of the 737 MAX crisis.

Payments Business Revolut Valued at $5.5 Billion in New Funding Round 

Revolut Ltd., one of the fastest-growing upstarts in the hot U.K. digital banking and payments market, was valued at $5.5 billion after it raised $500 million in new funding.

Juul Pitches Locked E-Cigarette in Bid to Stay on U.S. Market 

Juul Labs plans to present to federal regulators a new version of its vaporizer designed to unlock only for users at least 21 years old as part of an application the controversial e-cigarette maker must file to keep its products in the U.S. market.

Mallinckrodt Enters Creditor Talks Ahead of Potential Generics Bankruptcy 

Mallinckrodt has begun confidential discussions with creditors and is considering placing its U.S. generic-drug business into bankruptcy to address coming debt maturities and liabilities stemming from the opioid crisis, according to people familiar with the matter.

Salesforce, Silver Lake Pump Money Into ServiceMax 

The new $80 million investment is aimed at helping the software company beef up product development.

Dine Looks to Slow Applebee's Closures 

The restaurant company expects fewer Applebee's closures this year and aims to open new locations in the years ahead despite challenges for casual-dining chains.

Prudential Should Separate U.S., Asian Businesses, Third Point Says 

Activist hedge-fund firm Third Point said such a move would increase growth and drive value at the British insurer.


(END) Dow Jones Newswires

February 24, 2020 21:15 ET (02:15 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

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