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News Highlights: Top Company News of the Day

10/16/2020 | 11:16am EST
First Citizens, CIT Group to Merge 
 

The all-stock merger of equals will create the 19th-largest bank in the U.S. by assets and the combined company will take the First Citizens name.

 
State Street, BNY Mellon Report Declining Profit 
 

The two large custody banks grew assets under management while experiencing low-to-single-digit declines in earnings and revenue.

 
Daimler's Third-Quarter Acceleration May Be as Good as It Gets 
 

The maker of Mercedes-Benz posted much better quarterly cash flows than expected, but in some ways is an industry outlier.

 
Pfizer Could Apply for Emergency Use of Covid Vaccine by Late November 
 

Drug giant Pfizer said it could be ready to apply for emergency-use authorization of its Covid-19 vaccine by late November, assuming it receives positive efficacy and safety data from late-stage human trials.

 
Tab, Coca-Cola's Diet-Soda Pioneer, Is Going Away 
 

The soda company's first diet cola was a pop-culture icon in the 1970s and early '80s, then faded after the launch of Diet Coke. Coca-Cola kept the brand going for decades to appease a fiercely devoted base.

 
Amazon Prime Day Accelerates Shift to Online Shopping 
 

The two-day event propelled consumers to spend billions more online this week, kicking off an end-of-year shopping season that is expected to be dominated by e-commerce shopping.

 
NIH to Study Three Drugs in Treatment of Covid Patients 
 

The National Institutes of Health is launching a late-stage clinical trial of three drugs-Johnson & Johnson's Remicade, Bristol-Myers Squibb's Orencia, and AbbVie Inc.'s investigational drug CVC-as treatments for severe Covid-19.

 
LVMH Is Firing on the One Cylinder That Matters 
 

Take away Louis Vuitton and Christian Dior and the world's biggest luxury company looks down at heel. All that matters for now, though, is the rapid recovery of those two brands.

 
Blackstone Raises the Stakes in Wager on Science Buildings 
 

Blackstone Group is extending its big bet on biotechnology and other life-science buildings, a hot field in the real-estate world that is heating up even more as scientists pursue a vaccine for Covid-19.

Battery maker Exide is plowing ahead with efforts to walk away from contaminated sites in 10 states through bankruptcy, over a challenge from authorities in California, home to some of the company's most toxic facilities.

(END) Dow Jones Newswires

10-16-20 1115ET

Stocks mentioned in the article
ChangeLast1st jan.
ABBVIE INC. 1.74% 103.96 Delayed Quote.17.42%
CHRISTIAN DIOR SE 0.37% 429.4 Real-time Quote.-6.00%
CIT GROUP INC. 2.22% 35.47 Delayed Quote.-22.27%
LVMH MOËT HENNESSY - LOUIS VUITTON SE 0.53% 495.3 Real-time Quote.19.47%
PFIZER INC. 0.22% 36.6 Delayed Quote.-6.59%
THE BLACKSTONE GROUP INC. 1.22% 59.83 Delayed Quote.6.95%
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