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News Highlights: Top Company News of the Day

10/28/2020 | 08:16am EST
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

10-28-20 0915ET

Stocks mentioned in the article
ChangeLast1st jan.
ASAHI CO., LTD. -0.64% 1549 End-of-day quote.9.62%
ASAHI GROUP HOLDINGS, LTD. 4.29% 4550 End-of-day quote.-8.69%
ASAHI HOLDINGS, INC. 1.82% 3350 End-of-day quote.23.80%
DEUTSCHE BANK AG 0.61% 9.811 Delayed Quote.40.97%
HEINEKEN HOLDING N.V. 1.27% 80.15 Delayed Quote.-8.68%
HEINEKEN N.V. 1.07% 91.26 Delayed Quote.-5.29%
IMI PLC 2.03% 1158 Delayed Quote.-3.99%
SIX FLAGS ENTERTAINMENT CORPORATION 3.53% 34.43 Delayed Quote.-23.94%
SONY CORPORATION -0.08% 9757 End-of-day quote.31.83%
THE BLACKSTONE GROUP INC. -0.32% 61.9 Delayed Quote.9.76%
THE BOEING COMPANY 5.96% 234.7172 Delayed Quote.-31.28%
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