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DJ News Highlights: Top Company News of the Day

· 02/05/2021 01:00
Ford's Results Hindered by Lower Truck OutputPrudential Reports 27% Drop in Profit, Resumes Share BuybacksT-Mobile Warns Investors of More Costs Ahead as It Digests SprintPeloton Taps Brakes to Fix Delivery WoesCredit Suisse Was Alerted to Banker's Misconduct Years Before ChargesStates Pressure Drugmakers After McKinsey's $600 Million SettlementNews Corp Posts Most Profitable Quarter Since 2013J&J Seeks FDA Authorization for One-Shot VaccineKia Has Approached Partners About Plan to Build Apple Car in GeorgiaTikTok Rival's Stock Nearly Triples in Hong Kong Debut

Shares in Kuaishou nearly tripled from their IPO price in early trading, implying a market value of more than $160 billion, versus nearly $61 billion when the share sale was priced.

The South Korean auto maker's proposal would involve a multibillion-dollar investment, according to people familiar with the matter.

The move sets the stage for a potential third vaccine to become available in the U.S. within weeks.

The New York-based media company said net quarterly profit nearly tripled.

The consulting firm reached deals with 49 states over advice it gave pharmaceutical companies to boost painkiller sales.

The Swiss bank overlooked red flags for years while a rogue private banker stole from billionaire clients, according to a report by a law firm for Switzerland's financial regulator.

Sales and subscriptions more than doubled in the latest quarter despite long shipping delays that the company has promised to address as would-be customers vent their anger online.

T-Mobile will spend $2.5 billion to $3 billion before taxes folding the stores, employees and network infrastructure it acquired from its one-time competitor into the new business.

The U.S.'s largest life insurer by assets was stung by low interest rates and the economic fallout from the pandemic.

The Detroit auto maker said through 2025 it will spend $22 billion on electric vehicles and another $7 billion to develop autonomous vehicles.

(END) Dow Jones Newswires

February 05, 2021 01:00 ET (06:00 GMT)

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