Bank of America Profit Rises 32%

Bank of America, the second largest U.S. lender by assets, reported third-quarter net income rose 32% as the bank continued to benefit from a strong economy, higher interest rates and recent federal corporate tax changes.

 
Porsche Slams the Brakes on IPO Speculation

Porsche reined in its finance chief after he fueled speculation that the company was discussing a potential listing of a super luxury group combining Porsche, Lamborghini, Bugatti and Bentley that could value the group at up to $81 billion.

 
Sears Files for Chapter 11 Bankruptcy

Sears filed for bankruptcy protection from creditors, marking the collapse of a company that dominated American retailing for much of the 20th century.

 
Icahn to Oppose Dell's Purchase of DVMT Tracking Shares

Carl Icah revealed an 8.3% stake in DVMT and says he plans to vote against Dell's plan to buy the stock as part of a deal intended to return Dell to the public markets.

 
Can Netflix Avoid Another Earnings Miss?

On Tuesday, when Netflix reports third-quarter earnings, the streaming company will get to prove to investors that its earnings miss last quarter was just a passing blip. If it misses again, though, the tide of opinion may turn.

 
A Drama CBS Can't Cancel-the One in its Boardroom

CBS sought to turn the page on upheaval when Leslie Moonves stepped down as chairman and chief executive. Instead, the boardroom drama continued.

 
Superdry Loses Its Cool as Heatwave Hits Sales

Shares in Superdry plunged more than 20% after the British clothing brand warned hot weather in Europe and the U.S. had hit demand for its jackets and sweats.

 
BlackRock CEO Pulls Out Of Saudi Conference

The chief executive of the world's biggest asset manager has backed out of Saudi Arabia's signature conference, the latest Western executive to withdraw as the kingdom grapples with allegations it had a hand in the killing of journalist Jamal Khashoggi.

 
Chinese Drugmaker's IPO Tests a Slumping Biotech Market

A Chinese cancer drug developer is pushing ahead with an initial public offering in Hong Kong, despite a global markets rout and the recent poor performance of other biotechnology startups that have listed in the city.

 
Bank of America Is Missing Out on Wall Street's Boom

Bank of America's purchase of Merrill Lynch was supposed to make it a top-flight global investment bank. A decade later, it is struggling to make good on that promise.

(END) Dow Jones Newswires

October 15, 2018 09:00 ET (13:00 GMT)

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