Uber Proposals Value Company at $120 Billion Ahead of Possible IPO

The ride-hailing company recently received proposals from banks valuing it at as much as $120 billion in an initial public offering that could take place early next year.

 
Goldman Sachs Rides Deals to Improved Results

Goldman Sachs said profit rose to $2.5 billion in Lloyd Blankfein's last quarter as chief executive as the Wall Street firm benefited from a strong deal-making environment but turned in mixed trading results.

 
Walmart's Largest Acquisition Ever Will Hit Profit

Walmart lowered its profit targets and said it would open just 10 new U.S. stores next fiscal year, as the world's biggest retailer focuses its efforts on e-commerce shopping.

 
Morgan Stanley's Profit Jumps 20%

Morgan Stanley reported net income of $2.15 billion, beating analyst expectations, as Chairman and CEO James Gorman's turnaround plan at the firm continued. The firm reported revenue gains in retail brokerage, trading and investment banking.

 
BlackRock Reports $3.11 Billion in Net Outflows

BlackRock, the world's largest asset manager, posted a stronger profit in third quarter but reported over $3 billion in net outflows.

 
Johnson & Johnson Raises Profit Outlook

Johnson & Johnson raised its earnings expectations for the year following strong sales in its third quarter.

 
UnitedHealth Raises Profit Outlook on Strong Quarter

UnitedHealth Group raised its full-year earnings outlook as the company continued to see growth in health-care plan membership and premiums.

 
Audi Settles Diesel Engine Probe for Almost $1 Billion

Luxury car brand has agreed to pay a fine of $927 million to settle a German fraud investigation related to the sale of cars with six- and eight-cylinder diesel engines that contained illegal software to manipulate emissions.

 
Apple 'Deeply Apologetic' Over Account Hacks in China

Apple apologized over the hacking of some Chinese accounts in phishing scams, almost a week after it emerged that stolen Apple IDs had been used to swipe customer funds.

 
Three More Major Bank CEOs Pull Out of Saudi Conference

The heads of HSBC, Credit Suisse and Standard Chartered pulled out of Saudi Arabia's "Davos in the Desert," putting the conference further in doubt.

(END) Dow Jones Newswires

October 16, 2018 09:15 ET (13:15 GMT)

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