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News Highlights : Top Company News of the Day

10/28/2020 | 08:16pm EST
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

10-28-20 2115ET

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