The beverage giant is set to launch its first-ever alcoholic drink in the U.S.
There will be a little bit of fizz and a little bit of booze as Coca-Cola launches the alcoholic version of its Topo Chico sparkling water in the U.S. It will be the beverage giant’s first alcoholic drink in the country and it is partnering with beer giant Molson Coors Beverage Co. (NYSE: TAP) to make it happen. The drink is expected to be available in 2021 and its launch will help Coca-Cola push further into alcoholic drinks and help Molson Coors strengthen its portfolio of low-alcohol spirits. Click here to read more
Walt Disney Co said that it will lay off about 28,000 employees at its U.S. theme parks, especially Disneyland in California, which remains closed due to the pandemic. The continued closure of Disneyland, the limited operating capacity of its other theme parks and the uncertainty of the pandemic’s duration all contributed to the tough decision by the company. The company said it cannot responsibly stay fully staffed while operating at minimal capacity. Click here to read more
Cybersecurity software firm McAfee Corp. has filed documents for an IPO with the U.S. Securities and Exchange Commission (SEC). The company listed the size of the offering as $100 million in the filing but the amount is subject to change. McAfee plans to be listed on the Nasdaq under the ticker symbol MCFE. Morgan Stanley, Goldman Sachs and Citigroup Inc are leading the share sale. McAfee’s planned IPO is part of a software IPO boom in 2020. Click here to read more
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Here are the biggest movers in pre-market trading
1. Apple grants CEO Tim Cook first major stock package since 2011. Click here to read more
2. JPMorgan to pay $920 million for manipulating precious metals, treasury market. Click here to read more
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