News Highlights: Top Company News of the Day
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
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.
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 Third-Quarter Profit Tops $1 Billion
The private-equity firm reported a big bump in third-quarter
total investment income after rivals Blackstone and Carlyle posted
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.
Europe's Airlines Cut Flights as Virus Cases Rise
Europe's major carriers are cutting capacity plans for the end
of the year as they grapple with a surge in coronavirus cases and
new restrictions to limit the spread of the viral disease.
Newell Brands Returns to Profit in 3Q
The consumer-goods conglomerate posted a profit of $304 million,
or 71 cents a share, compared with last year's loss of $626
million, or $1.48 a share.
Ant IPO Sets Off $3 Trillion Scramble Among Small Investors
More than 5 million individual investors lined up for the
Shanghai segment of financial-technology giant Ant's IPO, placing
orders that exceeded the shares reserved for small investors more
than 870 times.
Honeywell Posts Lower 3Q Revenue as Aerospace Business Sags
Honeywell International recorded a smaller profit as sales
declined in the aerospace division during a pandemic that has
disrupted air travel and aircraft manufacturing.
(END) Dow Jones Newswires
October 30, 2020 11:15 ET (15:15 GMT)
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