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 thought.

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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