News Highlights: Top Company News of the Day

Date : 10/12/2017 @ 11:30PM
Source : Dow Jones News

News Highlights: Top Company News of the Day

Samsung Expects Another Quarter of Record Profits 

Samsung Electronics, continuing to see roaring demand for its components, is forecasting third-quarter profits will be the company's highest ever.

HP Forecasts a Good 2018 for Profit 

HP Inc. expects 2018 to be another good year, with profit projections beating Wall Street expectations, and it's pledging to continue to return most of its cash to shareholders.

Amazon Suspends Entertainment Chief Roy Price suspended the head of its entertainment studio, Roy Price, in the wake of allegations of mismanagement and sexual harassment and criticism of his close business relationship with Harvey Weinstein.

Chevron Loses Taste for Oil in Great Australian Bight 

The U.S. company has abandoned plans for deep-water exploration wells in the 1,000-mile stretch of ocean off southern Australia, citing low oil prices.

MGM Officially Disputes Part of Police Timeline in Vegas Shooting 

The owner of the Mandalay Bay Resort and Casino claims the wounding of a security guard by Stephen Paddock occurred moments before shootings began, a much shorter time frame than the six minutes attributed by law enforcement.

Hostess Latest Food Maker to Plan Leadership Change 

Hostess Brands Inc. joined the ranks of food companies changing leaders as Bill Toler said he plans to retire in March, just over a year after taking the Twinkie-maker public again.

Westinghouse Seeks to Tap Bankruptcy Loan to Shore Up Global Nuclear Business 

Parts of Westinghouse Electric's global nuclear business are in urgent need of financial aid and the company is asking to tap its bankruptcy financing to shore them up.

Judge Issues Temporary Restraining Order in Energy Future-Vistra Tax Fight 

A bankruptcy judge issued a temporary restraining order barring Vistra Energy from filing a tax return that runs afoul of an agreement reached as it exited from bankruptcy last year.

Star Fidelity Manager Fired Over Sexual Harassment Allegations 

Gavin Baker, a star stock picker at Fidelity Investments, was fired last month after being accused of sexually harassing a junior female employee. Mr. Baker "strenuously" denies the allegations, according to his spokesman.

Cost Cuts, Credit-Card Lending Buoy Bank Earnings 

Growth in credit-card lending and a tight rein on costs boosted third-quarter profits at J.P. Morgan Chase and Citigroup offsetting downbeat trading results and a still-challenging interest-rate environment.


(END) Dow Jones Newswires

October 12, 2017 23:15 ET (03:15 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.
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