News Highlights: Top Company News of the Day
October 27 2020 - 8:15AM
Dow Jones News
AMD Agrees to Buy Rival Chip Maker Xilinx for $35 Billion
Advanced Micro Devices plans to buy rival chip maker Xilinx in a
$35 billion deal, adding momentum to the consolidation of the
semiconductor industry that has only accelerated during the
pandemic.
Pandemic Dents Third-Quarter Sales for Pfizer
The Covid-19 pandemic weighed down sales for some drugs in the
latest quarter as the company's candidate vaccine for the virus
that has caused the public-health crisis continues in a large
late-stage trial.
Caterpillar's Sales Fall as Coronavirus Weighs on Industry
Slower construction of everything from cruise ships to pipelines
during the coronavirus pandemic is weighing on demand for
Caterpillar Inc.'s heavy machinery.
Harley-Davidson Lifts Profit Amid Turnaround Push
The motorcycle manufacturer reported a stronger profit and said
it would exit 39 weaker-performing markets and move to a
distributor model in 17 others, including in India.
3M Sales Rise From Personal-Safety, Home-Improvement Products
The manufacturer's profit fell as expenses grew and demand for
products serving industries affected by the Covid-19 pandemic
continued to decline.
Merck 3Q Profit Rises, Raises 2020 Adj EPS Guidance
Merck said its profit and sales for the September quarter rose
as it continued to work on treatments and vaccines for
Covid-19.
BP Posts Fifth Straight Quarterly Loss
U.K. energy company BP reported a fifth consecutive quarterly
loss, providing the first glimpse of how major oil companies
navigated the third quarter amid a prolonged slump in demand.
HSBC Shares Jump on Lower Bad-Loan Provisions
Shares in HSBC rose after the bank took fewer provisions for bad
loans in the third quarter and said it might pay a "conservative"
dividend, the latest global bank to strike a cautiously optimistic
note on a recovery.
Lawmakers Want to Protect Local Newspapers From Google, Facebook
Some Senate Democrats are seeking to empower regulators to
protect local news outlets, accusing tech giants such as Google and
Facebook of "unfair business practices," according to a new
committee report.
NIH Halts Study Exploring Treating Covid-19 With Lilly Antibody, Remdesivir
Federal health researchers have halted testing a combination of
Eli Lilly's Covid-19 antibody drug and remdesivir in hospitalized
Covid-19 patients, after an independent committee found a lack of a
benefit.
(END) Dow Jones Newswires
October 27, 2020 09:00 ET (13:00 GMT)
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