News Highlights: Top Company News of the Day
Citadel, Point72 to Invest $2.75 Billion Into Melvin Capital Management
Hedge fund Melvin Capital has been hit hard by a series of short
bets to start the year, down nearly 30% for 2021 through Friday,
people familiar with the firm said.
GameStop Stock Surges to Record
GameStop shares surged before pulling back and giving up much of
their gains, the latest sign that frenetic trading by individual
investors is leading to outsize market moves.
Moderna Developing Booster Shot Against Strain First Identified in South Africa
Moderna said its Covid-19 vaccine appeared to protect against
emerging strains in lab tests, but due to a weaker immune response,
the company will develop a booster shot targeting the variant first
identified in South Africa.
UPS to Sell Freight Trucking Business for $800 Million
United Parcel Service has agreed to sell its freight business to
rival TFI International, saying it plans to focus on the soaring
Merck Scraps Covid Vaccine Candidates
Merck is halting development of its two experimental Covid-19
vaccines, after early clinical-trial data showed the shots
generated disappointing immune responses against the virus.
Google Pursues Plan to Remove Third-Party Cookies
The Alphabet unit is pushing forward with its plan to remove a
widely used tracking technology from its Chrome web browser,
despite complaints from rivals that rely on it to target ads at
Kimberly-Clark Stock Gains on Earnings, Dividend Increase
The results highlight how consumers are still flocking to
trusted brands during the Covid-19 pandemic.
NBCUniversal's Peacock to Become WWE's Exclusive Streaming Home
World Wrestling Entertainment content will move to Peacock
starting March 18 in a deal worth more than $1 billion.
Diamond Offshore Strikes Restructuring-Plan Agreement
The restructuring plan would cut more than $2.1 billion of the
contract driller's debt.
New Yorker Gives Back National Magazine Award
The New Yorker magazine has given back a National Magazine Award
for an article about Japan's "rental family" industry, the first
return of an award in the 55-year history of the magazine
industry's highest honor.
(END) Dow Jones Newswires
January 25, 2021 15:15 ET (20:15 GMT)
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