Microsoft's Earnings Continue to Ride Pandemic-Fueled Demand for Cloud

The software company said total sales rose 12% to $37.2 billion, generating a net profit of $13.9 billion in the first quarter of its fiscal year.

 
SoCal Edison Says It May Have Caused Orange County Wildfire

The Silverado Fire has consumed more than 11,000 acres of tinder-dry brush in the foothills above Irvine and other cities south of Los Angeles.

 
Revlon Warns of Possible Bankruptcy Reorganization if Bond Swap Flops

The beauty-products maker warned bondholders about the substantial risk of a bankruptcy restructuring if they don't participate in a proposed debt exchange.

 
Eli Lilly Earnings, Halted Covid-19 Drug Trial Disappoint Investors

The drugmaker reported lower-than-expected quarterly earnings due to pricing pressure on top products. It said it would proceed with plans to introduce a new coronavirus antibody treatment despite a recent setback.

 
Visa's Planned Purchase of Plaid Faces Antitrust Scrutiny at the Justice Department

The DOJ, making preparations for potential litigation, could soon decide whether it will sue to block Visa's purchase of the fintech firm.

 
Raytheon Shrinks to Fit Jet Downturn

The biggest aerospace supplier by sales said it is cutting 20,000 jobs this year-up from a previously announced 15,000-as it adjusts to the shrinking airline industry and the sharp drop in jetliner orders and deliveries.

 
T-Mobile Makes Another Bid for Pay-TV Viewers

The cellphone carrier unveiled a new wireless TV service that will stream channels like CNN and ESPN in bundles costing between $10 and $60 a month.

 
Callaway Golf to Buy Rest of Topgolf

Callaway Golf agreed to buy the rest of Topgolf Entertainment Group in a deal that values the driving-range operator at $2 billion and brings the maker of golf balls and clubs into sports entertainment.

 
Coronavirus Prompts Rent the Runway to Think Beyond Rentals

The startup is raising a new round of financing and is focusing on selling clothes, not just renting them, after the startup suffered a near-fatal blow from a coronavirus pandemic that has kept women home for most of the year.

 
A Broken Up AIG Would Still Have Work to Do

AIG's property-and-casualty unit could fetch a better valuation on its own, but it will likely still trail its rivals for now.

(END) Dow Jones Newswires

October 27, 2020 19:15 ET (23:15 GMT)

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