News Highlights: Top Company News of the Day
Goldman Profit More Than Doubles, Powered by Trading
The Wall Street firm's revenue rose 18% above 2019's
fourth-quarter level as it benefited from a relatively small loan
book and heavy exposure to underwriting and trading securities.
Bank of America Profit Falls 22%
The lender released $828 million in funds it had set aside to
cover soured loans, a sign that its executives believe there may
not be as much consumer and business distress as initially
Royal Caribbean to Sell Azamara Luxury Cruise Line for $201 Million
The move would let the cruise operator focus on its core brands
after almost a year since onboard coronavirus outbreaks brought its
voyages to a halt in the U.S.
Office Depot Rebuffs Takeover Offer From Staples
Office Depot's parent, ODP, has concluded that a sale of its
retail and consumer-facing e-commerce operations to Staples or a
joint venture is preferable to a full takeover, according to a
letter reviewed by The Wall Street Journal.
Lumentum to Buy Laser Maker Coherent for $5.7 Billion
Under the terms of the cash-and-stock deal announced Tuesday,
Coherent shareholders would receive $100 and 1.1851 shares of
Lumentum stock for each Coherent share.
Advent International Backs RxBenefits at $1.1 Billion Valuation
The global private-equity firm is investing in the pharmacy
benefits provider alongside the company's existing private-equity
backer Great Hill Partners.
Rio Tinto Records Slight Lift in Iron-Ore Shipments
Rio Tinto reported a 1% lift in annual shipments of iron ore
from its Australian mining hub and forecast a wide range for 2021
exports around a similar level as it deals with uncertainties tied
to the pandemic and a review of heritage laws.
Poshmark Keeps It Social in Sustainable E-Commerce
The online platform, which calls itself a social shopping
marketplace, combines all of retail's hottest trends, but future
growth could be costly.
Jeep-Maker Stellantis Needs to Go Global
The merger of Fiat Chrysler and its French peer PSA will create
a trans-Atlantic giant out of two smaller car makers. One of its
biggest challenges is to go truly global.
Renaissance Says Losses Should Have Been Expected at Some Point
The quant hedge fund told clients that a recent drop of 20% to
30% was partially due to increased market volatility.
(END) Dow Jones Newswires
January 19, 2021 09:00 ET (14:00 GMT)
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