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S&P 500

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News Highlights: Top Company News of the Day

11/17/2020 | 05:16am EST
Berkshire Invests in Drugmakers Seeking Covid-19 Vaccine 

Warren Buffett's firm is betting on some of the largest companies chasing a Covid-19 vaccine, including Merck, Bristol Myers Squibb, AbbVie and Pfizer.

Tesla to Be Added to S&P 500 Index 

Tesla will join the S&P 500 index on Dec. 21, S&P Dow Jones Indices said in a statement. The move marks a milestone for the electric-car maker, which has sought to overcome cash flow problems and defy skeptics from Wall Street and Detroit.

Airbnb Reveals Potential Noncompliance of U.S. Sanctions 

Airbnb said it made voluntary disclosures to the Treasury Department about its compliance efforts and certain user activity on its platform that may have been at odds with requirements under U.S. sanctions laws.

GameStop's New Billionaire Investor Pushes for Digital Sales, Fewer Stores 

Chewy co-founder Ryan Cohen, who holds a nearly 10% stake in GameStop through his investment firm RC Ventures LLC, is pushing the company to conduct a strategic review.

Cinemark, Universal Usher in Change to Movie-Theater Distribution 

The cinema chain agreed to show Universal films for just three weekends before they go to home video.

Taylor Swift's Early Music Catalog Changes Hands Again 

Talent manager Scooter Braun sold Taylor Swift's master recordings from her first six albums to a Los Angeles-based investment firm in a deal valued at more than $300 million, marking a new flashpoint in the tussle between the pop superstar and her former label.

Huawei to Sell Budget-Smartphone Brand Honor as U.S. Sanctions Bite 

China's Huawei Technologies Co. said it would sell its budget-smartphone business Honor, citing "tremendous pressure" facing its consumer businesses from U.S. restrictions.

EasyJet Posts Loss; Prepares for Tough Winter 

EasyJet reported its first annual loss since the company was founded 25 years ago, and said it is working to minimize losses during winter months as the coronavirus pandemic continues to hit travel demand.

Moderna's Covid-19 Vaccine Is 94.5% Effective in Early Results, Firm Says 

Moderna's experimental coronavirus vaccine was 94.5% effective at protecting people from symptomatic Covid-19, an early look at pivotal study results showed-the second vaccine to hit a key milestone.

Mallinckrodt Gains Broader Support for Opioid Settlement 

Over a thousand counties and cities have agreed to the drugmaker's proposed $1.6 billion settlement of opioid-related lawsuits, support that is key to the company's chapter 11 restructuring.

(END) Dow Jones Newswires

11-17-20 0515ET

Stocks mentioned in the article
ChangeLast1st jan.
ABBVIE INC. -0.96% 111.6253 Delayed Quote.4.10%
AIRBNB, INC. -2.25% 159.0258 Delayed Quote.10.24%
CHEWY, INC. 1.03% 105.82 Delayed Quote.17.33%
CINEMARK HOLDINGS, INC. -1.72% 18.85 Delayed Quote.8.62%
DJ INDUSTRIAL 0.21% 31243.46 Delayed Quote.1.06%
EASYJET PLC -3.63% 804.6 Delayed Quote.0.34%
GAMESTOP CORP. -0.72% 39.16 Delayed Quote.106.16%
MALLINCKRODT PLC -4.13% 0.2379 Delayed Quote.-4.42%
NASDAQ 100 0.61% 13374.780013 Delayed Quote.3.17%
NASDAQ COMP. 0.44% 13513.828194 Delayed Quote.2.40%
PFIZER INC. -0.66% 36.305 Delayed Quote.-1.49%
S&P 500 0.21% 3859.45 Delayed Quote.2.55%
TESLA, INC. -0.77% 844.1099 Delayed Quote.20.52%
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