News Highlights: Top Company News of the Day
Robinhood Shares Swing in Volatile Session After Earnings Miss
The brokerage's stock fell as much as 14% at the start of the
session before turning positive, one day after it reported a loss
of $423 million for the fourth quarter.
Shopify Denies Allegations in Textbook Pirating Lawsuit
The e-commerce company said it isn't liable for copyright
infringement by sellers and has responded to takedown requests.
Elliott Management to Sell Stake in Hong Kong Bank, Ending Activist Campaign
Bank of East Asia Ltd. said it has agreed to buy all the shares
held by U.S. activist hedge fund Elliott Management Corp. for the
equivalent of about $373 million, ending its long-running battle
with an activist shareholder.
Construction Demand Lifts Caterpillar Revenue as Order Backlog Grows
The heavy-equipment maker's quarterly revenue rose 23%, but
supply-chain challenges meant it fell further behind on orders.
Tesla's Car-Karaoke Mic in China Sells Out on First Day
EV maker introduces TeslaMic and a software update that includes
karaoke tracks and videos, as it tries to catch up with local
rivals in the carpool karaoke competition.
Chevron Still Has Gas in Its Tank
Chevron's record-breaking results weren't enough to keep up with
its record-breaking share prices. With the strongest balance sheet
among peers, though, it will have more flexibility to woo investors
later in the year.
Citigroup Fined for Misconduct in Asian Stock Trading
Hong Kong's Securities and Futures Commission says its
investigation found "pervasive dishonest behavior" among the bank's
Fashion Brands Hope Covid Will Banish End-of-Season Sales
Bargain hunters may have noticed stingy discounts on clothing
this year. Fashion chains would like the trend to stick, although
this will be challenging as inflation bites.
Ukraine Tensions Hit Deal Talks
Italy's UniCredit pulled out of talks to take over Russian
lender Otkritie, one of the first instances where tensions over
Ukraine have run into corporate deal making.
Elon Musk's Decision to Slow New Tesla Models Risks Holding Up Growth
The CEO said the company doesn't plan to introduce any new
vehicle models in 2022.
(END) Dow Jones Newswires
January 28, 2022 17:15 ET (22:15 GMT)
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