News Highlights: Top Company News of the Day
16 October 2018 - 12:15AM
Dow Jones News
Bank of America Profit Rises 32%
Bank of America, the second largest U.S. lender by assets,
reported third-quarter net income rose 32% as the bank continued to
benefit from a strong economy, higher interest rates and recent
federal corporate tax changes.
Porsche Slams the Brakes on IPO Speculation
Porsche reined in its finance chief after he fueled speculation
that the company was discussing a potential listing of a super
luxury group combining Porsche, Lamborghini, Bugatti and Bentley
that could value the group at up to $81 billion.
Sears Files for Chapter 11 Bankruptcy
Sears filed for bankruptcy protection from creditors, marking
the collapse of a company that dominated American retailing for
much of the 20th century.
Icahn to Oppose Dell's Purchase of DVMT Tracking Shares
Carl Icah revealed an 8.3% stake in DVMT and says he plans to
vote against Dell's plan to buy the stock as part of a deal
intended to return Dell to the public markets.
Can Netflix Avoid Another Earnings Miss?
On Tuesday, when Netflix reports third-quarter earnings, the
streaming company will get to prove to investors that its earnings
miss last quarter was just a passing blip. If it misses again,
though, the tide of opinion may turn.
A Drama CBS Can't Cancel-the One in its Boardroom
CBS sought to turn the page on upheaval when Leslie Moonves
stepped down as chairman and chief executive. Instead, the
boardroom drama continued.
Superdry Loses Its Cool as Heatwave Hits Sales
Shares in Superdry plunged more than 20% after the British
clothing brand warned hot weather in Europe and the U.S. had hit
demand for its jackets and sweats.
BlackRock CEO Pulls Out Of Saudi Conference
The chief executive of the world's biggest asset manager has
backed out of Saudi Arabia's signature conference, the latest
Western executive to withdraw as the kingdom grapples with
allegations it had a hand in the killing of journalist Jamal
Khashoggi.
Chinese Drugmaker's IPO Tests a Slumping Biotech Market
A Chinese cancer drug developer is pushing ahead with an initial
public offering in Hong Kong, despite a global markets rout and the
recent poor performance of other biotechnology startups that have
listed in the city.
Bank of America Is Missing Out on Wall Street's Boom
Bank of America's purchase of Merrill Lynch was supposed to make
it a top-flight global investment bank. A decade later, it is
struggling to make good on that promise.
(END) Dow Jones Newswires
October 15, 2018 09:00 ET (13:00 GMT)
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