News Highlights: Top Company News of the Day

Date : 01/14/2020 @ 6:15PM
Source : Dow Jones News

News Highlights: Top Company News of the Day

PCs Aren't Coming Up Short - Yet 

Tuesday marks the formal end of Microsoft's extended support for Windows 7. A surprising number of people waited until the last minute to upgrade.

Morningstar Nears Settlement With SEC Over Bond Ratings 

Morningstar is nearing a deal with federal regulators over allegations the firm violated rules in its bond-rating business that prohibit analysts who hand out credit ratings from being involved in sales and marketing for their companies.

Boeing Orders Fall to 16-Year Low 

Boeing said it logged the lowest number of new orders since 2003 and delivered 380 jets last year, hundreds fewer than a year prior, as the global grounding of the 737 MAX left the aerospace giant trailing archrival Airbus.

JPMorgan Profit Jumps on Strong Trading Quarter 

JPMorgan Chase, the nation's largest bank, reported a 21% jump in quarterly profit, boosted by a surge in its investment bank and continued consumer strength.

Boston Scientific Shares Fall on Weak Preliminary Sales Numbers 

Medical-device maker Boston Scientific reported preliminary fourth-quarter results that fell shy of Wall Street's expectations, sending shares down more than 7%.

Investment Banking Propels Citigroup's Profit 

The New York bank said fourth-quarter profit rose 15% and beat expectations on a surge in its investment-banking operations.

MGM Resorts Agrees to Sell MGM Grand, Mandalay Bay 

MGM Resorts International agreed to sell the MGM Grand and Mandalay Bay resorts and casinos on the Las Vegas Strip to a joint venture that includes private-equity and real-estate giant Blackstone Group.

Wells Fargo CEO: Bank Made 'Some Terrible Mistakes' 

Wells Fargo's quarterly earnings dropped 53% and fell short of expectations as the bank set aside more money to resolve issues tied to its sales-practices scandal.

As Justice Department Pressures Apple, Experts Say iPhone Easier to Crack 

The escalation of a long-running encryption conflict between the Justice Department and Apple has puzzled security experts who say that new hacking tools have made it possible to gain access to many of the company's devices in criminal investigations.

Fundbox Hires First CFO as Fintech Startup Eyes Future IPO 

Marten Abrahamsen joined Fundbox in early January from The Chernin Group LLC, a Los-Angeles-based investment firm, where he was a partner since 2018. Before TCG, Mr. Abrahamsen was responsible for Coatue Management LLC's investments in Grab Holdings Inc. and Inc.


(END) Dow Jones Newswires

January 14, 2020 13:00 ET (18:00 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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