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News Highlights: Top Company News of the Day

10/13/2020 | 07:16am EST
J&J Vaccine Pause Shows Challenges Still Ahead for Covid-19 Shots 
 

The pause of Johnson & Johnson's trials poses another setback for global efforts to develop a shot to protect lives and jump-start economies battered by the pandemic, as well as a reminder of the challenges of fast-tracking vaccine development.

 
Apple Event: iPhone 12 Expected With 5G Capabilities 
 

The tech giant is expected to reveal its latest iPhone, a device capable of connecting to a 5G cellular network, which investors are betting will spur strong demand.

 
Blackstone-Backed Lender Is Set for IPO 
 

Finance of America Equity Capital, a Blackstone Group-backed consumer-lending platform, is set to go public with a $1.9 billion valuation in a merger with blank-check company Replay Acquisition.

 
Disney Elevates Streaming Unit in Reorganization 
 

The changes aim to give priority to Disney's streaming video businesses, creating new units that will produce content for digital and traditional platforms, in a shift echoing similar moves by other entertainment giants.

 
Southwest Airlines to Challenge Rivals at O'Hare and in Houston 
 

The carrier is pushing into two of the largest U.S. airports, signaling its plan to grab market share from United and American, bigger rivals hobbled by the coronavirus pandemic.

 
Wisconsin Says Foxconn Doesn't Qualify for Subsidies 
 

Wisconsin officials have denied a request by Foxconn Technology Group for the first payments in what had been envisioned as $3 billion in state subsidies for a major technology complex.

 
Bed Bath & Beyond CFO Looks to Declutter Shelves, Reduce Working Capital 
 

Home-goods retailer plans to close 200 stores over the course of two years and unveil a new store model later this month.

 
Maersk Lifts Outlook as Demand Recovers 
 

Maersk raised its full-year guidance after noting a faster-than-expected rebound in shipping volumes and freight rates, but cautioned it will take a $100 million charge in the third quarter to cover the cost of 2,000 job losses.

 
Cosco Shipping to Raise About $940 Mln via Sale of CIMC Stake 
 

Cosco Shipping Development will raise $939.8 million by selling its stake in China International Marine Containers (Group) to a state-owned investment management company.

 
PC Demand During Pandemic Fuels Strongest U.S. Market Growth in a Decade 
 

Remote work, study and home entertainment in the midst of the pandemic boosted personal-computer sales in the third quarter.

(END) Dow Jones Newswires

10-13-20 0715ET

Stocks mentioned in the article
ChangeLast1st jan.
A.P. MØLLER - MÆRSK A/S 1.10% 11960 Delayed Quote.23.13%
APPLE INC. -2.58% 114.464 Delayed Quote.59.84%
COSCO SHIPPING DEVELOPMENT CO., LTD. 6.03% 1.23 End-of-day quote.33.70%
COSCO SHIPPING HOLDINGS CO., LTD. 7.91% 7.5 End-of-day quote.137.34%
FOXCONN TECHNOLOGY CO., LTD. 1.17% 52.1 End-of-day quote.-21.30%
REPLAY ACQUISITION CORP. -0.10% 10.12 Delayed Quote.0.00%
SOUTHWEST AIRLINES 0.18% 45.73 Delayed Quote.-15.64%
THE BLACKSTONE GROUP INC. 0.53% 58.9381 Delayed Quote.4.84%
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