News Highlights: Top Company News of the Day

11/16/2020 | 07:16pm
Michael Dell
Tesla to Be Added to S&P 500 Index 

Tesla will be added to the S&P 500 index on Dec. 21, S&P Dow Jones Indices said in a statement.

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.

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.

Airbnb IPO Filing Shows Profitable Quarter After Deep Cuts 

Airbnb unveiled paperwork for its initial public offering, showing the home-sharing giant turned a profit in the third quarter after the coronavirus pandemic forced it to overhaul its business and shed costs.

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.

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.

'Someone's Losing Their Job': Revlon Lenders Were Surprised at Citi's $900 Million Mistake 

When Citigroup accidentally used its own funds to repay nearly $900 million owed by Revlon, lenders were surprised at their unexpected payoff, according to internal chat and email messages.

Home Depot to Buy Former Unit HD Supply for $8.7 Billion 

The home-improvement giant is buying HD Supply, which it had sold off in 2007, in order to beef up its ability to distribute industrial products.

Goldman's Top Deal Maker Leaving to Run Michael Dell's Investment Firm 

Gregg Lemkau, Goldman Sachs's co-head of investment banking, is leaving the Wall Street bank to run the investment firm started by technology tycoon Michael Dell.

'Predatory and Opportunistic': Southwest Airlines Seizes the Moment as Rivals Struggle 

Through its history, the no-frills airline has leapt at opportunities to expand into new cities. It's doing it again. "You could wait til Covid is over. But that's far too long."

(END) Dow Jones Newswires

11-16-20 1915ET

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