Big Tech Companies Reap Gains as Covid-19 Fuels Shift in Demand

Amazon and Google report strong quarterly sales and profits in the midst of a debate over their market power. 


 
Hertz Plans $4 Billion Borrowing to Spruce Up Vehicle Fleet

The rental-car company soon plans to line up a $4 billion financing package to refresh its vehicle fleet, on top of a $1.65 billion loan to carry itself through bankruptcy. 


 
Starbucks Says Customers Are Coming Back to Cafes

The coffee giant forecasts a return to sales growth next year. 


 
Swiss Re Swings to Loss

Swiss Re reported a loss for the first nine months of the year as coronavirus-related reserves and claims weighed on its earnings. 


 
Moderna Signs Covid-19 Vaccine Supply Contract With Japan

Moderna Inc. signed a contract with Japan's government to supply 50 million doses of its Covid-19 vaccine and said it is in advanced talks with the European Union to expand vaccine supply there. 


 
LafargeHolcim's Earnings Rise

LafargeHolcim said its profit increased in the third quarter, as earning grew across regions while costs fell. 


 
Netflix Raises Prices as Competition Increases

The streaming service raised the monthly price of its most popular plan for the first time since early 2019 as it competes with a growing number of cheaper alternatives. 


 
Walmart Pulls Guns, Ammo Displays in U.S. Stores, Citing Civil Unrest

The retail giant, which sells firearms in about half of its 4,700 U.S. stores, said customers can still purchase guns and ammunition upon request even though they are no longer on display. 


 
Quibi Adversary Asks Court to Freeze Some of the Company's Assets

A company that has accused Quibi of infringing on patented technology is seeking a court order barring the streaming-video service from distributing some of its assets to investors as it winds down the business. 


 
Juul Cuts Valuation to $10 Billion

The e-cigarette maker has dropped its valuation to about $10 billion, down from $38 billion two years ago when tobacco giant Altria took a 35% stake, the company told employees on Thursday.

(END) Dow Jones Newswires

10-30-20 0315ET