News Highlights: Top Company News of the Day
October 27 2020 - 9:30PM
Dow Jones News
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.
Bayer, BASF Weedkillers Cleared by EPA for Another Five Years
The agency said its reapproval of dicamba herbicides, which have
been blamed for damaging millions of acres of crops in recent
years, would provide clarity to farmers who say they need the spray
to combat hard-to-kill weeds.
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.
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.
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.
Purdue Creditors Committee Criticizes U.S. Deal With Sackler Family
The federal government's proposed settlement with the Sackler
family members who own OxyContin maker Purdue Pharma ran into
opposition from company creditors worried that less money will be
left over for them.
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.
Beam Suntory to Pay $19 Million to Settle Bribery Probe
Beam Suntory Inc. has agreed to pay $19 million to resolve a
criminal probe into bribes the maker of spirits allegedly paid to
sell a line of its products in India, the U.S. Justice Department
said.
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.
(END) Dow Jones Newswires
October 27, 2020 21:15 ET (01:15 GMT)
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