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News Highlights: Top Company News of the Day

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11/14/2019 | 03:16am EST
Icahn Backs Xerox's Big Bid, Reveals Stake in Target HP 

Activist investor Carl Icahn is pushing for the proposed merger of Xerox and HP. He revealed a stake in HP that could increase pressure for a tie-up.

Facebook Reports Gains in Removing Objectionable Content 

Facebook reported gains in detecting hate speech, child-abuse imagery and terrorist propaganda on its platforms and said its willingness to publish statistics on the removal of objectionable content shows its commitment to transparency.

WeWork's Loss Balloons to $1.25 Billion 

Office-space startup WeWork lost $1.25 billion in the third quarter as expenses far outpaced revenue growth, draining the company's cash ahead of a bailout by SoftBank last month.

Alibaba Seeks to Raise $13 Billion in Hong Kong Share Sale 

Alibaba applied for a secondary listing in Hong Kong, aiming to raise roughly $13 billion. The move gives the Asian financial hub a vote of confidence after monthslong demonstrations.

Mike Henry to Become BHP Group CEO in January 

BHP named Mike Henry as its new chief executive, opting for his experience running the most profitable operation of the global miner after a tumultuous period of big swings in commodity prices and exiting legacy assets.

SoCal Edison Agrees to Settlement in 2017, 2018 Wildfires 

California's second-largest utility company has agreed to pay $360 million to compensate about two dozen local governmental entities for damages and other costs.

Smith & Wesson Parent Plans Split 

The maker of Smith & Wesson firearms said it would split into two companies and reverse a multiyear diversification effort aimed at countering the sluggish domestic gun business.

Cisco Projects Reduced Revenue in Current Quarter 

Cisco Systems projected its first quarterly revenue decline in more than two years, blaming what it called a pause in customer spending tied to political and economic concern.

United Airlines' Costs Rise Amid 737 MAX Grounding, CFO Says 

United Airlines has experienced a double-digit increase in operating costs on certain routes because of the continued grounding of Boeing's 737 MAX aircraft, the airline's finance chief said.

McClatchy Seeks to Have U.S. Take Over Pension Fund 

Newspaper publisher McClatchy said it has begun talks with creditors and federal authorities about a possible government takeover of its pension fund as it tries to relieve liquidity pressure due to its pension responsibilities and debt load.

Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING -1.56% 198.74 Delayed Quote.44.99%
BHP GROUP 1.08% 38.46 End-of-day quote.9.14%
CISCO SYSTEMS 0.14% 43.9 Delayed Quote.1.32%
FACEBOOK 0.14% 201.34 Delayed Quote.53.59%
ICAHN ENTERPRISES L.P. -2.29% 60.2 Delayed Quote.5.47%
SOFTBANK GROUP CORP. 1.20% 4308 End-of-day quote.-38.50%
XEROX HOLDINGS CORPORATION -1.22% 37.31 Delayed Quote.88.82%
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