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News Highlights: Top Company News of the Day

10/20/2020 | 05:15pm EST
Disney Denounces California's Theme-Park Reopening Plans 

Disney said the strict guidance would significantly complicate the company's efforts to reopen Disneyland and criticized the government for applying inconsistent standards for different businesses in the state.

Netflix Subscriber Growth Slows Amid Heightened Competition 

Netflix added 2.2 million subscribers in the quarter on a net basis, short of its forecast in July of 2.5 million new subscriptions for the period.

Justice Department Presses to Curtail Purdue Pharma Bankruptcy Probe 

The Justice Department is urging a bankruptcy judge to limit a creditor probe of OxyContin maker Purdue Pharma into the billions of dollars in profits collected by the Sackler family members who own the company.

Snapchat Nears 250 Million Daily Users as Advertisers Lift Spending 

Snap Chief Executive Evan Spiegel said he was pleased with the company's growth and will continue long-term investments on things including augmented reality for its app.

Pioneer Natural Resources to Buy Parsley Energy for $4.5 Billion 

The deal is the latest in a series of combinations in the U.S. shale oil patch, which has been hard hit by the pandemic.

DOJ Files Google Antitrust Lawsuit 

The Justice Department lawsuit marks the most aggressive U.S. legal challenge to a company's dominance in the tech sector in more than two decades, with the potential to shake up Silicon Valley and beyond.

Zoom's CFO Looks to OnZoom to Grow Revenue Opportunities 

Kelly Steckelberg is banking on the new events platform to boost the company's reach and revenues. Zoom has also recently introduced Zoom Phone and Zoom Rooms.

Richard Branson Targets More Funds for Satellite-Launch Venture 

The space entrepreneur said Virgin Orbit, which is aiming for additional demonstration flights in the coming months after a setback earlier this year, will require roughly $200 million in additional cash infusion.

Oyo CEO Says Company's Business Has Rebounded From Spring Nadir 

India-based hotel startup Oyo Hotels & Homes has seen a key financial figure rebound to 20% below pre-pandemic levels after falling as much as 60% earlier in the year, Chief Executive Ritesh Agarwal said.

Pricey Hummer Pickup Highlights GM's Strategy for Electrics 

The company is shifting its strategy to attract customers who have deep pockets and want to be seen riding in style.

(END) Dow Jones Newswires

10-20-20 1915ET

Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. -1.91% 1752.83 Delayed Quote.33.42%
LONDON BRENT OIL -0.29% 47.5 Delayed Quote.-27.73%
NETFLIX, INC. -1.11% 486.13 Delayed Quote.51.86%
PARSLEY ENERGY, INC. -4.65% 13.105 Delayed Quote.-27.29%
PIONEER NATURAL RESOURCES COMPANY -5.09% 104.41 Delayed Quote.-27.28%
SNAP INC. -2.85% 44.75 Delayed Quote.181.87%
WTI -0.80% 44.81 Delayed Quote.-26.73%
ZOOM VIDEO COMMUNICATIONS, INC. -0.26% 469.71 Delayed Quote.593.14%
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