Dow Jones Top Company Headlines at 11 AM ET: Abbott to Carve Out Nutrition Business Into Independent Company | EBay ...

Abbott to Carve Out Nutrition Business Into Independent Company

Abbott plans to separate its nutrition business into an independent company, which is set to house electrolyte-beverage brand Pedialyte, as well as infant-formula brand Similac, with about $8.5 billion in annual sales.

----

EBay to Cut 9% of Workforce in Latest Round of Layoffs

The company said the move, which will affect about 1,000 employees, aims to help it focus its resources on its top priorities, and that it would continue to hire in certain areas aligned with its strategy.

----

AT&T Lifts Profit Outlook on Continued Postpaid Phone, Internet Growth

AT&T boosted its full-year profit outlook, but shares fell as some on Wall Street were disappointed by its core wireless-subscriber numbers and rising expenses.

----

Philip Morris Profit Falls Despite Higher Sales

Philip Morris International reported higher revenue in the latest quarter, though profit fell as the company faced inflationary pressures and stepped up its investments.

----

Akzo Nobel in Talks to Shed European Refinishing Unit for Axalta Merger Nod

EXCLUSIVE: Akzo Nobel is seeking to secure regulatory clearance for its proposed merger with U.S. peer Axalta Coating Systems, the company's chief executive said.

----

Hudbay, Mitsubishi Approve Construction of Big Copper Project in Arizona

Hudbay Minerals and partner Mitsubishi have formally approved construction of what promises to be the next major copper mine in the U.S., with production set to begin in the back half of 2029.

----

Elevance Health Lifts Guidance. CFO Sees a 'Clear Path' to Growth.

Investors are continuing to watch how the insurer navigates costs in its Medicare Advantage and Medicaid portfolios.

----

EU Investigates Booking.com Over Fake Listing, Phishing Scam Risks

The European Commission is investigating the company over concerns it isn't doing enough to prevent online fraud and scams.

----

Tesla and SpaceX Formed Committees to Discuss Potential Merger, Elon Musk Says

The CEO running both companies said "there is a lot of merit" in combining them.

----

Shares in Ray-Ban Maker EssilorLuxottica Gain as AI Glasses Continue to Shine

The stock surged after the eyewear group reported continued revenue strength at its AI-powered smartglasses business, though analysts warn that momentum may begin to tail off.

----

Carrefour Shares Slump After Group Trims Guidance, Citing French Riots

The stock fell more than 13% after the grocer cut its profitability targets for the year, expecting the protests in France to cast a pall over sales.

----

Soaring Energy Prices Spur U.K. to Approve Controversial Gas Field

The decision brings an end to an approvals process that had stalled on climate concerns, and primes operations to kick off within weeks.

----

Michelin Shares Drop on Weaker Volumes

The stock fell after the tire maker's volumes were weighed by lower sales of tires directly to automakers, however replacement tires proved more resilient.

----

Randstad Shares Soar After Company Flags Improving Trends

The stock jumped after the staffing company's results beat expectations at the top and bottom lines and flagged an improvement in trends. Shares in peer Adecco also climbed.

----

IBM Has a Chance to Rewrite Its Narrative. Can Earnings Spark a Comeback?

International Business Machines is set to report third-quarter earnings after the closing bell Wednesday.

----

How Toyota's Top-Selling SUV Suddenly Became So Hard to Find

Production changes caused the 2026 Toyota RAV4 to be in short supply, leaving customers waiting months to snag one.

(END) Dow Jones Newswires

October 21, 2026 11:15 ET (15:15 GMT)