Thursday’s business headlines

INDIANAPOLIS (WISH) – Here’s a look at Thursday’s business headlines.

Lilly

Eli Lilly and Company shares jumped as its seeking emergency use authorization for its COVID antibody treatment.

The company announced Wednesday that its drug, which has proven to reduce the rate of hospitalizations for coronavirus patients, showed similar results when combined with another antibody treatment made by the company.

President Trump also touted Lilly’s treatment as well as Regeneron’s in a speech Wednesday.

Amazon Prime Day

Amazon Prime Day is scheduled for Oct. 13 to 14 and 67% of Americans plan to shop more than on Black Friday and Cyber Monday in 2020.

The online retail giant’s 48-hour sales event marks a top shopping day for American consumers – beating out both Black Friday and Cyber Monday.

A 2020 RetailMeNot survey, Amazon Prime Day is expected to be the no. 1 shopping day in the fourth quarter.

Wells Fargo

Wells Fargo cut more than 700 commercial-banking jobs as it embarks on workforce reductions that could ultimately number in the tens of thousands, according to people with knowledge of the matter.

Bloomberg reports the terminations affected positions across the division.

The bank says it’s at the start of a multi-year cost-cutting effort.

Walmart

Walmart is entering the health insurance business, just in time for those signing up for Medicare open enrollment, which starts Oct. 15.

Walmart Insurance Services will assist people with enrolling in insurance plans and simplify what’s historically been a cumbersome, confusing process.