News Highlights: Top Company News of the Day
|10/30/2020 | 06:16am|
Ant IPO Sets Off $3 Trillion Scramble Among Small Investors
More than 5 million individual investors lined up for the Shanghai segment of financial-technology giant Ant's IPO, placing orders that exceeded the shares reserved for small investors more than 870 times.
Honeywell Posts Lower 3Q Revenue as Aerospace Business Sags
Honeywell International recorded a smaller profit as sales declined in the aerospace division during a pandemic that has disrupted air travel and aircraft manufacturing.
Glencore Cuts 2020 Coal Guidance Due to Strikes at Colombia Mine
Glencore cut full-year guidance for coal production by 4% due to strikes at the Cerrejon mine in Colombia.
Total Returns to Profit, Maintains Dividend
Total returned to profit in the third quarter of the year as results benefited from a more favorable environment with oil prices above $40 a barrel
Swiss Re Swings to Loss
Swiss Re reported a loss for the first nine months of the year as coronavirus-related reserves and claims weighed on its earnings.
LafargeHolcim's Earnings Rise
LafargeHolcim said its profit increased in the third quarter, as earning grew across regions while costs fell.
Ohio Utility Fires CEO Amid State Bribery Probe
Ohio utility FirstEnergy said it was firing Chief Executive Charles E. Jones, after an internal review related to government investigations of the company's potential role in an alleged state bribery scandal.
Big Tech Companies Reap Gains as Covid-19 Fuels Shift in Demand
Amazon and Google report strong quarterly sales and profits in the midst of a debate over their market power.
Hertz Plans $4 Billion Borrowing to Spruce Up Vehicle Fleet
The rental-car company soon plans to line up a $4 billion financing package to refresh its vehicle fleet, on top of a $1.65 billion loan to carry itself through bankruptcy.
Starbucks Says Customers Are Coming Back to Cafes
The coffee giant forecasts a return to sales growth next year.
(END) Dow Jones Newswires