News Highlights: Top Company News of the Day

03/08/18 07:15 PM EST
Wynn Resorts to Pay Universal Entertainment to Settle Litigation 

Wynn Resorts has agreed to pay Universal Entertainment $2.6 billion to settle litigation stemming from a forcible redemption of Universal's shares, according to people familiar with the matter.

Cigna Deal Shows Being a Health Insurer Isn't Enough Anymore 

Cigna's $54 billion deal for Express Scripts is the latest sign that health care's biggest players believe they can no longer go it alone, and they must branch into other businesses to forge integrated products aimed at curbing costs.

Cigna Agrees to Buy Express Scripts for More Than $50 Billion 

Cigna plans to buy Express Scripts in a cash-and-stock deal worth $54 billion that the companies say will expand their health-care offerings and help them control costs.

Toys 'R' Us Considers Closing All of Its U.S. Stores 

Troubled toy chain Toys "R" Us Inc. is preparing to liquidate all of its U.S. stores and abandon efforts to restructure through the bankruptcy process, people familiar with the matter said, after a weak holiday season torpedoed plans to reorganize.

Disney Shareholders Don't Endorse Compensation Plan for CEO Iger 

In a rare rebuke of Walt Disney leadership, shareholders voted down a nonbinding endorsement of Robert Iger's compensation plans, which could balloon well over $100 million under a recent contract extension.

J&J Says Discounts Cut the Prices for Its Drugs, Though Revenue Rose 

Johnson & Johnson says its net drug prices overall fell last year due to discounts and rebates. Revenue still rose 6.7%

Elon Musk Tells Trump That China's Trade Rules 'Make Things Very Difficult' 

Tesla Chief Executive Elon Musk took to Twitter to lobby President Donald Trump on China's trade stance on auto makers, saying the Middle Kingdom's current rules "make things very difficult."

GM Faces Renewed Prospect of $1 Billion Payout Over Ignition Safety 

General Motors Co. again faces the prospect of a potential $1 billion stock payout over its ignition switch crisis, after a trust for the company's bankruptcy estate renewed discussions with plaintiffs about a settlement.

Merrill Lynch Settles SEC Claims Over Sale of Chinese Company's Shares 

Merrill Lynch unit agreed to pay $1.4 million to settle SEC allegations that it didn't do enough to investigate red flags at a Chinese company whose unregistered securities it sold.

Hess Wins Peace With Activist Investor 

Hess said it would buy back an additional $1 billion in shares, heading off a potentially nasty proxy fight with activist hedge fund Elliott Management.


(END) Dow Jones Newswires

March 08, 2018 19:15 ET (00:15 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.