News Highlights: Top Company News of the Day
Intel Hit as Consumers Flock to Lower-Cost Laptops, Datacenter Chips
Chip giant Intel Corp. raised its full-year outlook even as
earnings suffered as consumers gravitated to cheaper laptops and
demand for datacenters softened.
Barbie Sales Take Off as Parents Try to Cut Down on Screen Time
Mattel's flagship doll Barbie posted a 29% sales increase in the
latest quarter, leading the toy company to 10% revenue growth in
the period. It was the largest quarterly increase posted by Barbie
in at least two decades.
Bayer's Request for Roundup Appeal Rejected by California Court
The California Supreme Court declined to hear an appeal by Bayer
seeking to reverse a jury verdict that the company's Roundup
herbicide caused a groundskeeper's cancer, leaving the company with
few remaining options to avoid paying a $20.4 million judgment.
Gucci Struggles as Pandemic Keeps Tourists Home
Gucci reported a 12% drop in third-quarter sales as the Italian
fashion house was hit hard by the absence of tourist shoppers from
Asia during the pandemic.
Goldman to Recoup, Cut Executives' Pay After 1MDB Fines
Goldman Sachs is seizing or withholding $174 million from
executives including CEO David Solomon after agreeing to a costly
settlement to resolve government investigations into its role in a
Malaysian bribery scandal.
Google Lawsuit Could Alter Business Calculations in Enterprise Tech Market
The antitrust lawsuit filed against Google this week is focused
mostly on the consumer business, but it also will have implications
for the enterprise tech market where Google aspires to a greater
AMC Bonds Fall Despite Theater Reopenings
Analysts say the company is in danger of running out of cash
without new blockbusters to attract moviegoers.
Airlines' Losses Mount, but Demand Shows Improvement
Southwest said it lost nearly $1.2 billion during the third
quarter. American lost $2.4 billion and Alaska Air reported losing
Google's Antitrust Woes Seen Helping Microsoft's Bing
The target of the U.S. government's last major tech antitrust
campaign, Microsoft, could be the biggest beneficiary of its
newest, the lawsuit the Justice Department filed this week against
Goldman Sachs Malaysia Subsidiary Pleads Guilty in 1MDB Case
A unit of Goldman Sachs pleaded guilty to conspiring to violate
U.S. antibribery laws, the first step in an expected resolution of
a long-running investigation into its role in a Malaysian
(END) Dow Jones Newswires
October 22, 2020 17:15 ET (21:15 GMT)
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