News Highlights: Top Company News of the Day
29 October 2020 - 1:30AM
Dow Jones News
Samsung Posts Profit Increase as Pandemic Fuels Tech Demand
Samsung Electronics Co. reported its largest profit in more than
18 months, fueled by a bounceback in smartphone sales and ongoing
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.
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.
Bed Bath & Beyond Picks the Low Hanging Fruit
Many of the retailer's issues have straightforward fixes, but
its long-term goals are ambitious.
FTC Request to Reconsider Qualcomm Antitrust Case Rejected by Appeals Court
A federal appeals court refused to reconsider its decision
earlier this year to throw out a government antitrust case against
Qualcomm.
Root's IPO Is a Windfall for Drive Capital, Ribbit, Other VCs
At the initial price, Drive Capital's stake in Root stands at
about $1.46 billion. It is the first IPO for a portfolio company of
Columbus, Ohio-based Drive.
AMD, Nvidia Chip Away at Intel's Semiconductor Dominance
Advanced Micro Devices, long the underdog in the
computer-processor market, and Nvidia, a graphics-processing
specialist, are mounting their biggest challenge yet to level the
playing field in the U.S. chip industry.
U.S. Reaches $375 Million Deal for Lilly Covid-19 Antibody Drug
Drugmaker Eli Lilly & Co. agreed to provide 300,000 doses of
its experimental Covid-19 antibody drug to the federal government
for $375 million, if the medicine is authorized for emergency use
in the U.S., the company said Wednesday.
(END) Dow Jones Newswires
October 28, 2020 21:15 ET (01:15 GMT)
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