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News Highlights: Top Company News of the Day

Morgan Stanley Cuts CEO James Gorman's Bonus 

Morgan Stanley paid its chief executive, James Gorman, $27 million for his work in 2019, a pay cut for a year when the bank's revenue hit a record but its shares lagged behind those of rivals.

Best Buy Opens Probe Into CEO's Personal Conduct 

The board of Best Buy is investigating allegations that Chief Executive Corie Barry had an inappropriate romantic relationship with a fellow executive, who has since left the electronics retailer.

Judge Slashes Damages in J&J Risperdal Case to $6.8 Million from $8 Billion 

A judge reduced the amount of punitive damages Johnson & Johnson must pay in a lawsuit over its antipsychotic Risperdal to $6.8 million from the $8 billion awarded by a jury in October.

Boeing Encounters New MAX Woes 

The plane maker has found a software problem that prevents the 737 MAX's computers from powering up prior to flight, a discovery that could complicate the aircraft's return to service.

Disney Drops 'Fox' From Twentieth Century Name 

The company renamed the Twentieth Century Fox movie studio, which it acquired last year, making it Twentieth Century Studios.

ThirdLove Takes on Victoria's Secret, but Faces Challenges 

Startup ThirdLove is taking on Victoria's Secret by promoting a more realistic body image and apparel more tailored to individuals, but it faces challenges in a competitive sector.

J.B. Hunt Misses on Fourth-Quarter Earnings 

The Lowell, Ark.-based company reported a 6% increase in quarterly revenue, to $2.45 billion, compared with the same period in 2018, and diluted earnings per share of $1.35, compared with 81 cents in 2018. Analysts had forecast diluted earnings per share of $1.50, according to FactSet.

Trust Banks Have a Need for Spend 

Core total revenue was stable at both State Street and Bank of New York Mellon in the fourth quarter, but the big difference was the expense outlook.

Airbnb to Tie Employee Bonuses to Guest Safety 

Ahead of its plans to go public, Airbnb laid out a strategy that emphasizes serving "stakeholders" that include hosts, guests, investors, employees and the communities in which it does business.

Walmart Shuffles Executive Ranks After Holiday Season 

Walmart chief merchant Steve Bratspies is leaving the company as the country's largest retailer shakes up its executive ranks following the crucial holiday season.


(END) Dow Jones Newswires

January 17, 2020 19:15 ET (00:15 GMT)

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