Eli Lilly Earnings, Halted Covid-19 Drug Trial Disappoint Investors

The drugmaker reported lower-than-expected quarterly earnings due to pricing pressure on top products. It said it would proceed with plans to introduce a new coronavirus antibody treatment despite a recent setback.

 
Visa's Planned Purchase of Plaid Faces Antitrust Scrutiny at the Justice Department

The DOJ, making preparations for potential litigation, could soon decide whether it will sue to block Visa's purchase of the fintech firm.

 
Raytheon Shrinks to Fit Jet Downturn

The biggest aerospace supplier by sales said it is cutting 20,000 jobs this year-up from a previously announced 15,000-as it adjusts to the shrinking airline industry and the sharp drop in jetliner orders and deliveries.

 
T-Mobile Makes Another Bid for Pay-TV Viewers

The cellphone carrier unveiled a new wireless TV service that will stream channels like CNN and ESPN in bundles costing between $10 and $60 a month.

 
Callaway Nears Deal to Buy Rest of Topgolf

The companies are discussing a deal that would value closely held Topgolf at more than $2 billion, people familiar with the matter said. An agreement could be finalized this week assuming the talks don't fall apart.

 
Coronavirus Prompts Rent the Runway to Think Beyond Rentals

The startup is raising a new round of financing and is focusing on selling clothes, not just renting them, after the startup suffered a near-fatal blow from a coronavirus pandemic that has kept women home for most of the year.

 
A Broken Up AIG Would Still Have Work to Do

AIG's property-and-casualty unit could fetch a better valuation on its own, but it will likely still trail its rivals for now.

 
Etsy Bet on Face Masks. So Far It Is Paying Off.

The online marketplace, which reports earnings Wednesday, has seen profit swell from demand for masks and home décor.

 
Amazon to Hire 100,000 Seasonal Workers for Holidays

The new hires would add to the e-commerce giant's hiring spree this year amid a surge in online shopping during the Covid-19 pandemic.

 
AMD Agrees to Buy Rival Chip Maker Xilinx for $35 Billion

Advanced Micro Devices plans to buy rival chip maker Xilinx in a $35 billion deal, adding momentum to the consolidation of the semiconductor industry that has only accelerated during the pandemic.

(END) Dow Jones Newswires

October 27, 2020 15:15 ET (19:15 GMT)

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