News Highlights: Top Company News of the Day
28 October 2020 - 1:15PM
Dow Jones News
Pandemic Drives More Boeing Job Cuts
The aerospace giant is reviewing jet production levels and plans
to shed another 7,000 jobs by the end of next year in response to
the mounting toll on the global airline industry from a fresh
global surge in coronavirus cases.
GE's Cost Cuts Offset Troubles in Aviation Unit
The conglomerate reported another quarter of shrinking revenue
due to the trouble aviation industry, but posted a smaller loss and
generated cash from its industrial operations.
Sony Gets Lift From Stay-at-Home Demand Ahead of PlayStation 5 Launch
Sony raised its forecast for its full-year operating profit by
nearly $800 million, capping a strong run of results by Japanese
electronics makers benefiting from China's revived economy and
pandemic technology trends.
Blackstone Earnings Tick Higher as Tech Lifts Portfolio
The firm posted slightly higher net earnings for the third
quarter as its focus on tech-related investments helped its
private-equity portfolio rise above broader markets.
UPS Posts Strong Gains as Package Volumes Swell
United Parcel Service said revenue rose nearly 16% in the third
quarter as its business continues to be boosted by the influx of
packages moving domestically and internationally during the
pandemic.
Deutsche Bank Swings to Profit, Lowers Bad-Loan Provisions
The lender returned to a third-quarter profit, beating
expectations as it benefited from a strong performance in
investment banking and a faster-than-anticipated recovery in its
home market.
Six Flags Shares Fall After Swinging to 3Q Loss
Shares of Six Flags Entertainment fell sharply in premarket
trading after the theme-park operator swung to a third-quarter loss
as revenue slid almost 80%, a continuation of the Covid-19
pandemic's toll on the tourism industry.
Vista's Robert Smith Plays Down Co-Founder Brian Sheth's Potential Exit
Vista Equity Partners has reorganized in recent months to reduce
its dependence on any one person or strategy, CEO Robert Smith has
told investors.
Scopely, a Mobile Gaming Company, Collects $340 Million in New Fundraising
Valued at $3.3 billion following its Series E fundraising,
Scopely is riding a wave of videogaming (and cash-raising) during
the pandemic.
Heineken to Buy Strongbow Cider Brand
Heineken will buy cider brand Strongbow from Asahi in Australia,
after the Japanese firm put up those assets for sale to meet
regulatory requirements.
(END) Dow Jones Newswires
October 28, 2020 09:00 ET (13:00 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.