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The Labor Department is expected to report Friday a sharp slowdown in job growth in November as a surge in coronavirus cases weighs on many businesses.
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Salesforce.com's proposed purchase of workplace collaboration software pioneer Slack Technologies was prompted by the pandemic, but its success will hinge on whether it delivers in the post-lockdown world, analysts say.
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 Shares of XPeng Inc. turned lower Thursday after the China-based electric vehicle maker was downgraded at UBS, as analyst Paul Gong suggested they had run up too much to recommend investors buy at current levels.
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 Southwest Airlines Co. on Thursday told more than 6,800 employees that their jobs are at risk without concessions from labor unions or federal aid as the pandemic continues to cut demand for air travel, the Wall Street Journal reported. The furloughs, if they come to pass, would be a first in Southwest's history, the report said. Shares of Southwest rose more than 2% Thursday and are down around 10% this year, contrasting with gains around 14% for the S&P 500 index.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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3M Co. said Thursday it is planning a restructuring that will impact 2,900 jobs globally as the Post-it maker and diversified industrial company moves to align operations with the changing economy in the face of the coronavirus pandemic. "The COVID-19 pandemic has advanced the pace of change and disrupted end markets around the world, increasing the need for companies to adapt faster," said Mike Roman, 3M chairman and chief executive officer in a statement. 3M already introduced a new global operating model in January, and is now aiming to better use analytics to drive efficiencies. The company is expecting to book pretax charges of $250 million to $300 million, of which $120 million to $150 million will be booked in the fourth quarter. The company expects to generate annual pretax savings of $200 million to $250 million, with $75 million to $100 million expected in 2021. Shares were down 0.1% premarket and have fallen 1.6% in the year to date, while the Dow Jones Industrial Average has gained 4.7% and the S&P 500 has gained 13.6%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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