News Highlights: Top Company News of the Day
October 20 2020 - 9:30AM
Dow Jones News
DOJ to File Long-Awaited Antitrust Suit Against Google
The lawsuit, which will be filed today, accuses the search giant
of anticompetitive conduct and marks the most aggressive U.S. legal
challenge to a company's dominance in the tech sector in more than
two decades.
P&G and Reckitt Clean Up on Pandemic-Driven Hygiene
Procter & Gamble reported its biggest global sales increase
in 15 years as the world's consumers spent more to keep their homes
and themselves clean during the coronavirus pandemic. Reckitt
reported its sharpest quarterly sales growth on record, driven by
its hygiene unit.
Albertsons 2Q Profit Exceeds Analysts' Expectations
Albertsons reported stronger sales for its latest quarter but
demand was a bit slower when compared with earlier this year, when
consumers loaded up on food to eat at home during the Covid-19
pandemic.
Lockheed Martin Sets Modest Sales Expectations
The world's largest defense company said it expects sales to
rise about 3% next year as it provided a first look at the impact
of slowing military budget growth.
Travelers' Profit Rose in Third Quarter
Property-casualty insurance company Travelers Cos.'s reported an
increase in profit and net written premiums for the quarter that
ended last month and reported just under $400 million in pretax
catastrophe losses.
UBS Profit Doubles on Trading Surge
The Swiss lender said a surge in client trading and deal making
is freeing up cash for dividends and share buybacks despite the
coronavirus pandemic.
Pioneer Natural Resources Is in Talks to Buy Parsley Energy
The two oil-and-gas companies, shale producers that operate in
the Permian Basin of Texas and New Mexico, are discussing an
all-stock deal that could be completed by the end of the month,
according to people familiar with the matter.
Intel's SK Hynix Deal Will Make Good Memories
Intel's origin as a memory-chip company is already a distant
memory. Its latest deal just confirms that-and brings much-needed
consolidation to the industry.
Microsoft Teams With SpaceX to Push Cloud Battle With Amazon Into Orbit
Microsoft will help connect and deploy new services using swarms
of low-orbit spacecraft being proposed by SpaceX, part of an
initiative targeting commercial and government space businesses
that comes just months after Amazon disclosed its own space-focused
effort.
Swedbank Profit Beats Forecast
Swedbank posted a forecast-beating net profit for the third
quarter of SEK5.26 billion, as net income commission was boosted by
strong stock market conditions.
(END) Dow Jones Newswires
October 20, 2020 09:15 ET (13:15 GMT)
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