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 Earnings Weighed Down by Low Rates
The bank's profit declined 22% in the fourth quarter as
rock-bottom interest rates pose a challenge for lenders. Still,
per-share earnings topped analyst estimates.
Microsoft Bets on Driverless-Car Space With Investment in GM's Cruise
Microsoft is among a group of companies that will invest more
than $2 billion in San Francisco-based Cruise, which has been
majority owned by GM since early 2016. The financing brings
Cruise's valuation to $30 billion.
MGM Ends Bid for British Gaming Firm Entain
The Las Vegas-based casino operator made a bid for Entain by
offering 0.6 of its shares for each Entain share, worth GBP8.09
China Clears Cisco-Acacia Deal With Conditions
China's antitrust regulator said the U.S. telecom-equipment
companies and subsequent merged entity must fulfill existing
contracts with Chinese clients and keep commercial terms
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.
(END) Dow Jones Newswires
January 19, 2021 11:15 ET (16:15 GMT)
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