News Highlights: Top Company News of the Day
PayPal Is in Talks to Buy Pinterest
PayPal is in talks to buy social-media platform Pinterest, which
has a market value of more than $35 billion. Such a move would take
the payments giant's business in a new direction.
Exxon Debates Abandoning Some Oil, 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.
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.
China Evergrande Calls Off Plans to Sell Key Unit for $2.6 Billion
The move is a major setback in the real-estate giant's attempts
to ease its liquidity crunch.
Facebook's Zuckerberg Named in Suit by Washington, D.C., Attorney General
The district's attorney general is seeking to hold Mark
Zuckerberg personally liable in a lawsuit stemming from the 2018
Cambridge Analytica personal-data scandal.
In-N-Out Burger in San Francisco Closed for Violating City Vaccine Policy
A location of the burger restaurant was shut down for failing to
check customers' vaccination status.
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.
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.
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
Micron to Expand Chip Production With $150 Billion in Capital Spending
Chief Executive Sanjay Mehrotra says the Boise, Idaho,
memory-chip maker is seeking clarity on U.S. financial incentives
for the coming decade.
(END) Dow Jones Newswires
October 20, 2021 15:15 ET (19:15 GMT)
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