News Highlights: Top Company News of the Day
Rent the Runway Jumps 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.
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
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.
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.
Boeing Reports Loss, Hit by Dreamliner and Starliner Setbacks
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.
Glaxo Earnings Beat Expectations. CEO Says Her Plan Is Working.
Amid an assault from activist investors, GlaxoSmithKline CEO
Emma Walmsley said the company's third-quarter financial results
show that her strategy is on the right track.
Promising Covid-19 Pill Licensed to Nonprofit to Increase Global Supply
Merck is licensing molnupiravir, an antiviral it developed with
Ridgeback Biotherapeutics, to a group that will pick drugmakers to
make the pill for low- and middle-income countries.
Telecom Mogul's Family Feud Creates Boardroom Chaos for Canadian Telecom
The split over control of Rogers Communications has exposed
family grievances, confused employees and investors, and
complicated a pending $16 billion takeover.
Kraft Heinz Raises Full-Year Outlook as It Tackles Inflation
The food maker posted net income attributable to shareholders of
$733 million, compared with $597 million a year earlier.
McDonald's Raises Menu Prices as U.S. Worker Wages Climb
The burger giant says it is trying to keep pace with rapidly
growing costs, with wages alone up at least 10% so far this year at
(END) Dow Jones Newswires
October 27, 2021 13:00 ET (17:00 GMT)
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