Exxon Debates Abandoning Some of Its Biggest Oil and Gas Projects

Members of the company's remade board of directors are questioning several major investments as the company reconsiders its investment strategy in a fast-changing energy landscape.

 
Blackstone Buying Majority Stake in  Spanx

The deal values Spanx at $1.2 billion. Spanx founder Sara Blakely will maintain a significant stake in the company and continue to oversee operations.

 
Facebook Fined $70 Million in U.K. Over Giphy Merger Breach

The U.K.'s competition regulator said Facebook had failed to provide required updates outlining its compliance with an interim order the watchdog imposed in 2020, as part of its review of its proposed takeover of Giphy, a provider of animated images for use in social media.

 
Biogen's New Alzheimer's Drug Meets Slow Rollout

The drugmaker's revenue from the drug, Aduhelm, was $300,000 in the first full quarter since its approval, a figure well below analyst expectations. Sales could be minimal through the end of the year, the company said.

 
Verizon's Earnings Topped Estimates. Its Stock Is Rising.

The telecom giant showed improving subscriber growth numbers for a second quarter, as well as progress in moving customers to more expensive plans in the 5G era.

 
Novavax Shares Plunge on Report of Covid-19 Vaccine Manufacturing Problems

A report in Politico said the pharmaceutical company was having difficulties manufacturing a Covid-19 vaccine that met regulators' quality standards.

 
Nestlé Sales Buoyed by Coffee, Pet Food

The Swiss company's upbeat quarter provides an early sign that consumer habits acquired during the pandemic, such as drinking more and better quality coffee at home, could continue to benefit it, despite the ongoing challenges of rising input costs and supply-chain snags.

 
Cushman & Wakefield to Buy 40% Stake in Greystone Multifamily Business

The commercial real estate services giant has agreed to pay $500 million for a 40% stake in the rental apartment lending and loan servicing business owned by Greystone, the latest sign of the strength of the rental apartment industry.

 
Abbott Labs Earnings Beat Estimates. Its Stock Is Rising.

Abbott reported an adjusted profit of $1.40 a share, beating forecasts for $0.94 a share.

 
GM CFO Takes Steps to Help Auto Maker Achieve Its 2030 Goals

General Motors' finance chief is working to build out the company's forecasting and planning capabilities to help the car maker achieve its long-term goals and better explain its business transformation to investors.

(END) Dow Jones Newswires

October 20, 2021 11:00 ET (15:00 GMT)

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