News Highlights: Top Company News of the Day
October 22 2020 - 9:30AM
Dow Jones News
Coca-Cola's Revenue Falls, Hurt By Away-From-Home Channels
Revenue fell in the third quarter as the company continued to
see pressure from its sales to restaurants, bars, movie theaters
and other public venues.
Northrop Grumman Posts 3Q Sales, Profit Growth
Northrop Grumman posted a larger profit and stronger revenue
year over year in the latest three-month period, led by growth in
the company's aeronautics division.
Kimberly-Clark Misses 3Q Adjusted Profit Expectations
Kimberly-Clark reported net income of $472 million down from
$671 million or the year-earlier period. An adjusted profit for the
quarter of $1.72 a share missed expectations from analysts by 4
cents.
Google's Foes Want Additional Enforcement Actions
The Justice Department's lawsuit against Google is the
government's biggest challenge to U.S. technology companies in a
generation. For many of the company's longtime adversaries, it
isn't big enough.
Sun Life Financial to Buy Majority Stake in Crescent Capital
The Canadian insurer will pay up to $338 million for a 51% stake
in private-credit fund manager Crescent Capital, as it seeks to
expand its alternative investments arm.
Pandemic Buying Patterns Drive Unilever Sales in North America
Unilever said American shoppers are still stocking up on its
hand sanitizer and condiments such as Hellmann's mayonnaise, as
they weather the ebb and flow of the coronavirus pandemic by
washing their hands, staying home more and cooking for
themselves
AT&T Pinched by Cord-Cutting and Closed Theaters
AT&T's legacy television business continued to lose
customers during the third quarter while its movie business was
sapped by the pandemic and new media bets struggled to gain
steam.
Goldman Fined $350 Million by Hong Kong Regulator Over 1MDB Scandal
A Hong Kong regulator fined a local unit of Goldman Sachs Group
$350 million for the investment bank's role in a
multibillion-dollar scandal involving Malaysian investment fund
1MDB.
Valero Swings to 3Q Loss Amid Refining Challenges
Valero Energy logged a loss as the coronavirus pandemic
continued to weigh on fuel markets. On an adjusted basis, Valero's
loss was $1.16 a share versus analysts' projection of an adjusted
loss of $1.49 a share.
Covid-19 Vaccine Makers to Face Challenges When Recognizing Revenue
Stockpiling, complex federal contracts and uncertainty around
future demand could make accounting for Covid-19 vaccine sales
tricky for drugmakers.
(END) Dow Jones Newswires
October 22, 2020 09:15 ET (13:15 GMT)
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