News Highlights: Top Company News of the Day
October 27 2021 - 5:30PM
Dow Jones News
Microsoft's New Normal Will Need to Stick
A strong streak of growth and operating profit gains haven't
been seen in nearly two decades, but the stock's valuation sets a
new, high bar.
GM Profit Sinks as Chip Shortage Takes Toll
The Detroit auto maker, reporting record pricing and a lucrative
mix of higher-profit SUVs and trucks, said its full-year profit
would finish at the high end of its prior estimate.
Mimecast Explores Options Including a Possible Sale
The cybersecurity-company makes cloud-based software that
protects business email from cyber threats and data leaks and
allows service to continue to function in the event of an
attack.
Justice Department Investigates Visa's Fintech Relationships
Antitrust investigators are scrutinizing financial incentives
Visa gave to Square, Stripe and PayPal.
Hertz Links Up With Uber to Offer 50,000 Tesla Rentals
The deal comes days after Hertz, which has emerged from
pandemic-induced bankruptcy, said it was making a significant
investment in an electric-vehicle rental fleet.
Spotify Ad Business Boosted by Podcasts
Spotify's big podcast bet appears to be paying off, with
third-quarter advertising revenue up 75% from a year earlier and
user growth picking up after a lull earlier this year.
Rent the Runway Shares Fall in Public Market Debut
The clothing-rental company had 112,000 active subscribers at
the end of September, compared with 134,000 at the end of 2019.
Boeing Loss Driven by Dreamliner, Space Problems
The plane maker had a net loss of $132 million, as 787
Dreamliner production problems and its latest space-launch setback
offset a recovery in demand for new aircraft.
Third Point Urges Shell to Split After Taking Big Stake
The activist hedge fund, with a stake worth well over $500
million, is pushing the oil giant to separate into two companies to
attract investors as many flee stocks seen as environmentally
unfriendly.
Facebook Faces FTC Probe Over Its Internal Research
Federal Trade Commission staffers have begun looking into
disclosures that Facebook's internal company research had
identified ill effects from its products, according to people
familiar with the matter.
(END) Dow Jones Newswires
October 27, 2021 17:15 ET (21:15 GMT)
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