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News Highlights: Top Company News of the Day

10/20/2020 | 05:16pm EST
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.

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.

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.

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.

Intel Sees Opportunity in U.S.-China Tensions' Impact on Supply Chains 

While China is a big market for the company, CEO Bob Swan said he also aims to expand its role in 5G infrastructure as the U.S. and other countries have limited Huawei's involvement in their next-generation wireless networks.

Travelers Is Ready for Post-Pandemic Journey 

Strong insurance pricing is helping Travelers and other insurers overcome the pressure of superlow interest rates, but Covid-19 still looms as a major uncertainty.

Uber Weighs California Overhaul if Ballot Measure on Workers Fails 

CEO Dara Khosrowshahi said the ride-hailing operator is "looking at all our options" if voters in the state reject an effort by Uber and other companies to secure an exemption from a law reclassifying drivers as employees.

IBM Hopes to Double Sales at Red Hat in Next Three Years 

Red Hat has been enjoying annualized growth of above 15% in recent quarters, IBM CEO Arvind Krishna said at the WSJ Tech Live conference.

(END) Dow Jones Newswires

10-20-20 1715ET

Stocks mentioned in the article
ChangeLast1st jan.
INTEL CORPORATION 0.85% 47.45 Delayed Quote.-21.39%
LONDON BRENT OIL 1.13% 48.24 Delayed Quote.-27.73%
NETFLIX, INC. 1.31% 491.36 Delayed Quote.51.86%
PARSLEY ENERGY, INC. -0.29% 13.75 Delayed Quote.-27.29%
PIONEER NATURAL RESOURCES COMPANY 0.10% 110.07 Delayed Quote.-27.28%
SNAP INC. 1.03% 46.03 Delayed Quote.181.87%
UBER TECHNOLOGIES, INC. -0.16% 50.72 Delayed Quote.70.54%
WTI 1.29% 45.54 Delayed Quote.-26.73%
ZOOM VIDEO COMMUNICATIONS, INC. 6.29% 471.61 Delayed Quote.593.14%
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