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News Highlights: Top Company News of the Day

10/26/2020 | 04:16pm EST
Global Insurer AIG to Divest Life-Insurance Business 
 

Current President Peter Zaffino will run the insurer as CEO starting March 1, while current Chief Executive Brian Duperreault will become executive chairman, the latest moves at a conglomerate that in recent years has faced shareholder activists.

 
Can Gap Escape the Whirlwind? New CEO Confronts Years of Decline 
 

Sonia Syngal must defy the vortex consuming companies that weren't prepared for the Covid crisis. She is plotting a future of fewer stores and more fashion risks to revive the company's namesake brand.

 
BuzzFeed Expects to Break Even, Thanks to Heavy Cost Cuts 
 

Through roughly $30 million in cost reductions-a mix of furloughs, pay cuts, layoffs and other changes-the digital media startup said its finances are stabilizing after the pandemic hurt its ad revenue.

 
Hasbro Posts Rise in 3Q Profit 
 

Hasbro logged a third-quarter profit of $220 million, or $1.61 a share, but revenue from the company's operations that rely on live events suffered during coronavirus pandemic.

 
Dunkin' Brands in Talks to Be Acquired by Arby's Parent 
 

The parent of Dunkin' and Baskin-Robbins said it has held early talks to go private in an acquisition by Inspire Brands, whose portfolio includes Arby's, Buffalo Wild Wings and Jimmy John's chains.

 
Oxford, AstraZeneca Vaccine Shows Promising Immune Response in Older Adults 
 

A Covid-19 vaccine being developed by the University of Oxford and AstraZeneca showed a promising immune response and low levels of adverse reactions in the elderly and older adults, according to an interim analysis.

 
SAP Profit Warning Sends Shares Plummeting 
 

Shares in Europe's biggest tech company plunged after it scrapped its profit targets for the year and said measures to thwart a rebound in coronavirus infections would weigh on business through the middle of next year.

 
Ant to Raise More Than $34 Billion in Record IPO 
 

The Chinese financial-technology giant will list its shares in what is set to be the world's biggest-ever initial public offering, a deal that bypasses U.S. stock exchanges.

 
Facebook Moves Into Cloud Gaming 
 

The social-media company's free-to-play model differs from the paid, subscription cloud-gaming services of rivals such as Google and Microsoft.

 
Auto Makers Shift Hydrogen Focus to Big Rigs 
 

Auto makers have spent decades developing hydrogen fuel cells as a green alternative for cars with little to show for it. Now, they are shifting their attention to the trucking industry.

(END) Dow Jones Newswires

10-26-20 1715ET

Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. -1.83% 1754.4 Delayed Quote.30.99%
AMERICAN INTERNATIONAL GROUP INC -3.20% 38.44 Delayed Quote.-22.64%
ASTRAZENECA PLC 0.45% 7805 Delayed Quote.2.60%
DUNKIN' BRANDS GROUP, INC. 0.01% 106.34 Delayed Quote.40.77%
FACEBOOK INC -0.30% 276.97 Delayed Quote.34.94%
GAP INC -3.63% 20.96 Delayed Quote.18.55%
HASBRO, INC. 0.77% 93.03 Delayed Quote.-11.91%
MICROSOFT CORPORATION -0.54% 214.07 Delayed Quote.36.48%
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