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News Highlights: Top Company News of the Day

10/27/2020 | 10:16am EST
AMD Agrees to Buy Rival Chip Maker Xilinx for $35 Billion 

Advanced Micro Devices plans to buy rival chip maker Xilinx in a $35 billion deal, adding momentum to the consolidation of the semiconductor industry that has only accelerated during the pandemic.

Amazon to Hire 100,000 Seasonal Workers for Holidays 

The new hires would add to the e-commerce giant's hiring spree this year amid a surge in online shopping during the Covid-19 pandemic.

Ad Giant Omnicom Reports 11.5% Revenue Drop in Third Quarter 

The holding company said the sharp decline in sales caused by the coronavirus pandemic eased somewhat in the third quarter, but warned that budget cuts and a decrease in demand for marketing services will continue to weigh on its business.

Facebook's Top Public Policy Executive in India Steps Down 

Ankhi Das was at the center of political storm in India over the social-media giant's policy on anti-Muslim hate speech on the platform.

Pandemic Dents Third-Quarter Sales for Pfizer 

The Covid-19 pandemic weighed down sales for some drugs in the latest quarter as the company's candidate vaccine for the virus that has caused the public-health crisis continues in a large late-stage trial.

Caterpillar's Sales Fall as Coronavirus Weighs on Industry 

Slower construction of everything from cruise ships to pipelines during the coronavirus pandemic is weighing on demand for Caterpillar Inc.'s heavy machinery.

Harley-Davidson Lifts Profit Amid Turnaround Push 

The motorcycle manufacturer reported a stronger profit and said it would exit 39 weaker-performing markets and move to a distributor model in 17 others, including in India.

3M Benefits From Higher Demand for Face Masks, Consumer Goods 

The manufacturer's profit fell as expenses grew and demand for products serving industries affected by the Covid-19 pandemic continued to decline.

Merck 3Q Profit Rises, Raises 2020 Adj EPS Guidance 

Merck said its profit and sales for the September quarter rose as it continued to work on treatments and vaccines for Covid-19.

BP Posts Fifth Straight Quarterly Loss 

U.K. energy company BP reported a fifth consecutive quarterly loss, providing the first glimpse of how major oil companies navigated the third quarter amid a prolonged slump in demand.

(END) Dow Jones Newswires

10-27-20 1115ET

Stocks mentioned in the article
ChangeLast1st jan.
3M COMPANY -0.13% 176.89 Delayed Quote.0.27%
ADVANCED MICRO DEVICES, INC. 0.55% 87.19 Delayed Quote.90.12%
CATERPILLAR INC. 0.26% 175.08 Delayed Quote.18.25%
LONDON BRENT OIL 1.13% 48.24 Delayed Quote.-27.73%
OMNICOM GROUP., INC. -1.82% 63 Delayed Quote.-20.80%
PFIZER INC. 1.92% 37.23 Delayed Quote.0.30%
WTI 1.29% 45.54 Delayed Quote.-26.73%
XILINX, INC. 1.42% 137.49 Delayed Quote.40.63%
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