News Highlights: Top Company News of the Day
November 15 2018 - 3:30AM
Dow Jones News
Activist Investor Gets Important Backing in Campbell Soup Fight
Institutional Shareholder Services Inc. is recommending that the
food-maker's shareholders vote for all five of activist hedge fund
Third Point LLC's director nominees.
Tencent Stock Rallies on Strong Earnings
Tencent stock rose 4.2% after it reported a 30% rise in profits,
more than analysts expected. But the boost still leaves the
company's Hong Kong-listed shares down more than 30% in 2018.
Steve Wynn Seeks to Stop Release of Massachusetts Investigation
Steve Wynn is asking a Nevada state court to stop Massachusetts
gambling regulators from releasing a report on their investigation
into sexual-misconduct allegations against the former casino
mogul.
California's Largest Utility Pummeled by Wildfire Risks
California's largest utility suffered its steepest stock plunge
in 16 years Wednesday as concerns grew that potential liability
costs from destructive wildfires threaten the company's financial
future.
Three South Korean Firms Plead Guilty to Fixing Fuel Prices at U.S. Military Bases
Three South Korean companies agreed to plead guilty and pay $236
million in criminal and civil penalties for conspiring to fix
prices on fuel supplied to U.S. military bases in their country,
the Justice Department said.
Lockheed Martin Lands $23 Billion Pentagon Contract
Lockheed Martin has won a roughly $22.7 billion contract from
the U.S. Department of Defense to deliver 255 F-35 jets, a move
that comes after the defense contractor was tasked with lowering
the price of its planes.
Berkshire Now Has a $4 Billion Stake in Largest U.S. Bank
Warren Buffett's Berkshire Hathaway took a $4 billion stake in
JPMorgan Chase & Co. in the third quarter, adding to a list of
other large holdings in major American financial institutions.
Cisco Revenue Rises as Company Avoids Tariff Effects
Cisco Systems is one of a few tech giants under threat from the
U.S.'s trade fight with China, but the company said it has evaded
damage from tariffs so far.
Uber Posts Slower Sales Gains, Widening Loss Ahead of 2019 IPO
Results for the three months ending in September show that Uber
is still growing quickly but is likely to be unprofitable for some
time.
Bumble Is Open to a Right Swipe on IPO
Bumble Chief Executive Whitney Wolfe Herd said an initial public
offering of shares could provide momentum for further international
expansion of the dating app.
(END) Dow Jones Newswires
November 15, 2018 03:15 ET (08:15 GMT)
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