News Highlights: Top Company News of the Day
October 16 2018 - 7:15PM
Dow Jones News
Netflix Reports Strong User Growth
Netflix exceeded expectations for adding new subscribers during
the third quarter, reporting strong user growth in international
markets. Shares jumped after-hours.
United Boosts Profit Outlook as Fares Climb
The No. 3 U.S. airline reports revenue growth pushed past higher
jet-fuel costs as it increased passenger capacity at its hubs.
IBM's Revenue Shrinks Again
IBM reported third-quarter revenue that fell 2.1% from a year
earlier, snapping a brief return to growth that had ended nearly
six years of shrinking sales.
Advertisers Allege Facebook Failed to Disclose Key Metric Error for More Than a Year
Facebook knew of problems with how it measured viewership of
video ads for more than a year before it disclosed them in 2016,
according to a complaint filed Tuesday by some advertisers.
Lyft Picks Underwriters for Offering
Ride-hailing firm Lyft recently selected underwriters for an IPO
that is likely to take place in the first half of 2019. The firm's
valuation is expected to top the $15.1 billion it was valued at
earlier this year.
Goldman Sachs, Morgan Stanley Show Wall Street Charging Ahead
Goldman Sachs and Morgan Stanley both reported sharply higher
third-quarter profits Tuesday, wrapping up a week of big-bank
earnings reports that reflect the strength of a U.S. economy
shrugging off geopolitical turmoil.
Federal Judge Approves Musk, Tesla Settlements With SEC
A federal judge approved settlements between Elon Musk, Tesla
and securities regulators over the chief executive's August tweet
saying he had secured funding to take the auto maker private.
Railroad Operator CSX Beats on Earnings, Revenue
Railroad operator CSX reported a net income of $894 million, or
$1.05 a share, in the third quarter, compared to $459 million, or
$0.51 a share, in the same period a year ago. Revenue increased 14%
to $3.13 billion.
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.
Blue Apron Refinances Debt
Blue Apron Holdings, the meal-kit delivery company that has
fallen short of investor expectations, last week refinanced its
long-term debt, extending the maturity date to February 2021 from
August 2019.
(END) Dow Jones Newswires
October 16, 2018 19:00 ET (23:00 GMT)
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