News Highlights: Top Company News of the Day
October 29 2020 - 1:15AM
Dow Jones News
Marvell Nears Deal to Buy Inphi
Marvell Technology Group Ltd. is nearing a deal to buy Inphi,
according to people familiar with the matter, in what would be the
second big semiconductor tie-up this week as the industry rapidly
consolidates.
Standard Chartered's Pretax Underlying Profit Falls 40%
Standard Chartered's third-quarter pretax underlying profit
slumped 40%, as credit impairments continued to rise sharply due to
the pandemic, albeit at a slower pace than in previous
quarters.
Samsung Posts Profit Increase as Pandemic Fuels Tech Demand
Samsung Electronics reported its largest profit in more than 18
months, fueled by a bounceback in smartphone sales and demand for
memory chips.
Etsy Sales Lifted by Demand for Face Masks
Face masks, which represented 11% of overall gross merchandise
sales, pushed the online marketplace's revenue to more than
double.
U.S. Car Business Vrooms Back From Pandemic Nadir
The U.S. auto industry, hobbled this spring by the Covid-19
crisis, has bounced back stronger and faster than many expected
with some companies reporting record profits in the third
quarter.
Gilead Quarterly Revenue Rises on Remdesivir Sales
Gilead Sciences' revenue rose 17%, helped by sales of its
antiviral drug Remdesivir that has become a standard treatment for
hospitalized Covid-19 patients.
Tech CEOs Square Off With Senators Over Online Speech
A Senate hearing in which lawmakers tangled with leaders of the
largest social-media companies reflected deep discontent with their
power to shape political discourse-and equally deep divisions over
how to address it.
Pinterest's Revenue Soars as Pandemic Boosts Engagement
Pinterest posted strong revenue and user growth in the third
quarter, as the social-media company saw significantly greater
pandemic-fueled engagement than it did in the spring.
Yum China's Profit Nearly Doubles
Yum China's third-quarter net profit nearly doubled as business
activity improved in China and the company booked a noncash gain
following an acquisition.
Bed Bath & Beyond Picks the Low-Hanging Fruit
Many of the retailer's issues have straightforward fixes, but
its long-term goals are ambitious.
(END) Dow Jones Newswires
October 29, 2020 01:00 ET (05:00 GMT)
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