News Highlights: Top Company News of the Day
26 April 2018 - 3:30PM
Dow Jones News
Samsung's Earnings Hot Streak Continues
Sales of memory chips drove the company's fourth consecutive
quarter of record operating profits, but investors are focused on
how long the good times can keep rolling.
Facebook Posts Surge in Revenue as It Tackles User-Data Crisis
Facebook, in its first earnings report after touching off
widespread data-privacy concerns, posted soaring revenue and profit
that highlighted the company's central place in the digital
economy.
Senate Banking Chairman Chastises Citibank, Bank of America on Guns
The criticism centers on moves by the banks to stop doing some
business with the gun industry after the deadly shooting in
February at a Florida high school.
PayPal Profit Up on Mobile Payments, Cross-Border Trade
PayPal said on Wednesday that first-quarter profit rose by
one-third thanks to increases in mobile payments and cross-border
trade.
California Water Made Takeover Bid for SJW
A four-way bidding war may break out among water utilities, as
SJW had agreed to merge with Connecticut Water, while the firms
have since refused offers from California Water and Eversource
Energy, respectively.
AT&T's Revenue Suffers as Cord-Cutters Hurt
AT&T Inc.'s quarterly revenue declined as growth in the
company's streaming video service wasn't enough to offset losses of
more profitable wireless and satellite accounts.
Activist Investor TCI Has Built Stake of Over 4% in Fox
London-based activist investor Chris Hohn has built a roughly $3
billion stake in 21st Century Fox, a position that makes him one of
the largest holders of a company at the center of a global takeover
battle.
Sonos Prepares for IPO as Soon as June
Sonos, the Santa Barbara, Calif.-based wireless-speaker company,
is preparing for an initial public offering that could come as soon
as June or July, and give the company a valuation of between $2.5
billion and $3 billion.
Visa Profit Rises Sixfold as Card Spending Growth Continues
Visa's quarterly profit surged sixfold, bolstered by increased
consumer spending on credit and debit cards and the integration of
its European business.
WeWork Raises $702 Million With First Bond Sale
WeWork Cos. sold $702 million of bonds Wednesday, becoming the
latest startup to win over debt investors despite a cash-burning
history that is atypical for a bond issuer.
(END) Dow Jones Newswires
April 26, 2018 01:15 ET (05:15 GMT)
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