News Highlights: Top Company News of the Day
October 30 2020 - 1:30PM
Dow Jones News
Billionaires Icahn, Perelman in Standoff Over Revlon's Fate
Revlon's effort to escape having to file for bankruptcy is
pitching the two Wall Street billionaires toward a showdown.
Credit Karma in Talks to Sell Tax-Preparation Business to Square
The personal-finance portal's deal could head off potential
antitrust objections to its pending $7.1 billion sale to TurboTax
maker Intuit. A sale of the unit would require approval from the
Justice Department.
Trial of Regeneron's Covid-19 Antibody Drug Is Halted in Sickest Hospital Patients
Regeneron Pharmaceuticals suspended testing of its Covid-19
antibody drug in the sickest hospitalized patients because of a
safety concern, the latest setback for antibody-drug trials in
patients with advanced disease.
Altria Cuts Juul Valuation to Below $5 Billion
The Marlboro maker slashed the value of its investment in Juul
Labs, estimating the e-cigarette maker is worth less than $5
billion, after Juul told employees Thursday it had cut its own
internal valuation to $10 billion.
UK Banks Can't Celebrate Despite Strong Results
NatWest, Lloyds, Barclays and HSBC all booked lower provisions
than forecast but warned of uncertainty from the coronavirus
pandemic.
Huawei Slips to No. 2 in Smartphones
The Chinese tech company fell behind Samsung Electronics in
global smartphone shipments during the third quarter of the year,
according to International Data Corp.
Exxon Posts Third Consecutive Quarterly Loss for First Time
The Texas company also said it may write down the value of
natural-gas assets worth as much as $30 billion, as the pandemic
continues to pressure the world's biggest oil companies.
KKR's Profit Tops $1 Billion
The firm posted a big jump in third-quarter profit as the value
of its private-equity portfolio surged.
Supply-Chain Delays Hit Retailer Restocking Efforts
Supply-chain bottlenecks as a crush of imports heads into U.S.
seaports are pinching retailers' efforts to stock up as consumers
pick up their spending.
Colgate-Palmolive 3Q Sales Rose 5.5%
The consumer products company reported net income for the third
quarter of $698 million, or 81 cents a share, compared with $578
million, or 67 cents a share, a year earlier.
(END) Dow Jones Newswires
October 30, 2020 13:15 ET (17:15 GMT)
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