Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Self-Driving Startup Aurora Innovation Lands $90M [Derived Headline]

Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Self-Driving Startup Aurora Innovation Lands $90M [Derived Headline]

Article excerpt

Self-driving startup Aurora Innovation lands $90M

Aurora Innovation, Pittsburgh's more mysterious self-driving car counterpart to Uber, Argo AI and Aptiv, has closed a Series A venture capital round with $90 million in investment, the company said. Two venture capitalists representing firms on this round are joining Aurora's board: LinkedIn co-founder Reid Hoffman, who now works for Menlo Park, Calif.-based Greylock Partners; and Mike Volpi, a partner at San Francisco-based Index Ventures. Aurora designs and builds self-driving technology that will then be integrated into auto manufacturers' cars.

PPG shares fall as Lowe's picks Sherwin-Williams paints

Shares in PPG fell 2.5 percent Wednesday after Lowe's said it will stop selling PPG's Olympic brand paints and stains later this year. The stock closed at $112.44, down $2.87.

Lowe's struck a deal for Sherwin-Williams to become its exclusive U.S. supplier for interior and exterior house paints. Sherwin-Williams' stains include Minwax, Cabot and Thompson's Water Seal.

PPG said it was "disappointed" and will expand distribution of its products through PPG stores, dealers and other partners. PPG said sales generated at Lowe's are less than $300 million of the company's annual revenues, which totaled nearly $15 billion in 2017.

Mylan profits dipin Q4

Generic drug giant Mylan reported lower revenue and profits for the fourth quarter, hurt by weak prices for generic drugs in the U.S. and declining sales of its EpiPen emergency allergy shot. Net income skidded 41 percent to $244.3 million, or 46 cents per share, down from $417.5 million, or 78 cents, in the same quarter a year earlier. Excluding special items, adjusted earnings fell 9 percent to $1.43 per share versus $1.57, in line with the consensus estimate on Wall Street of $1.41 per share. Revenue for the final quarter of 2017 was $3.24 billion, down 1 percent from $3.27 billion a year earlier.

Bayer sees profit spike on strength of drugs

Bayer said 2017 net income grew by 62 percent as its prescription drugs such as blood thinner Xarelto and eye medicine Eylea generated record sales. …

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