News Highlights: Top Equities Stories Of The Day

SOCGEN PROFIT MORE THAN DOUBLES ON CIB GAINS French bank Societe Generale says 3Q net profit more than doubled as a continuing improvement in market conditions boosted earnings at its corporate and investment bank. But the results still miss analysts' forecasts. GM BOARD DECIDES TO KEEP OPEL GM's board makes an about turn on its decision to sell its Opel and Vauxhall units to Magna, citing an "improving business environment" and the strategic importance of the brand's to the auto maker's strategy, The Wall Street Journal reports. AVIVA POSTS SALES DROP OF 25% Aviva, the U.K.'s second-largest insurer by market capitalization, posts a 25% fall in new business sales in the 3Q, as weaker economies in many of its markets led to cuts in insurance spending. COBHAM SEES REVENUE CONTINUING TO GROW Cobham, the defense and commercial aerospace equipment maker, says revenue has grown strongly in the first nine months of the year and it expects that trend to continue in 4Q. KRAFT LINES UP $9B FOR BID, REPORT SAYS Kraft Foods obtains $9 billion in bridge financing from a group of nine banks to back its GBP10.2 billion ($16.7 billion) bid for the U.K.'s Cadbury, a news agency reports, citing bankers. TOTAL PROFIT TUMBLES AS OIL PRICES FALL French oil major Total reports a 37% fall in 3Q net profit as refining margins slump and oil trades much lower than a year ago. France's biggest company by market value says income fell to EUR1.92 billion. STATOIL UP 14%, CAUTIOUS ON PACE OF RECOVERY Statoil ASA (STO) Wednesday said it maintains a cautious outlook given no firm evidence that industry investment, employment and private consumption have recovered, as it reported a 14% rise in net profit. CARLSBERG PROFIT RISES ON COST CUTS Danish brewer Carlsberg posts rising 3Q net profit on the back of lower costs but cuts its sales guidance for 2009, saying it now expects net revenue of $11.7 billion-11.9 billion. ADIDAS POSTS LOWER PROFIT, CONFIRMS GUIDANCE Sportswear and equipment maker Adidas confirms its 2009 outlook after reporting an in-line 30% fall in 3Q net profit, as trading conditions remained difficult. MARKS & SPENCER'S PROFITS BEAT VIEWS U.K. food, clothing and housewares retailer Marks & Spencer reports better-than-expected core 1H earnings and says the 3Q had started well, although the company remains cautious for Christmas and the forthcoming year. NEXT RETAIL SALES BETTER THAN EXPECTED U.K. clothing and houseware retailer Next raises its guidance for second-half sales up to Christmas Eve after reporting a better-than-expected 1.3% decline for 3Q. BANK OF IRELAND PROFIT PLUMMETS Bank of Ireland says 1H net profit plummeted 73% to EUR168 million on restructuring and impairment charges, the country's economic and financial crisis and the slump in the property market. TAYLOR WIMPEY BUILDS ORDERS AS MARKETS GROW Taylor Wimpey, the U.K.'s largest house builder, says it will focus on achieving price increases as it builds its 2010 order book amid significantly better U.K. housing market conditions. JD WETHERSPOON CONFIDENT DESPITE SLOW GROWTH U.K. pub operator J.D. Wetherspoon posts a slowdown in sales growth in the first quarter but says it remains confident of its full-year prospects. In its last financial year, Wetherspoon posted a 5% rise in revenue. LOGICA POSTS INCREASE IN REVENUE AND ORDERS Anglo-Dutch computer services group Logica posts an increase in revenue and orders for the 3Q from a year earlier, driven by its outsourcing division, and maintained its full-year margin guidance.