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News Highlights: Top Company News of the Day

10/29/2020 | 02:17am EST
Marvell Nears Deal to Buy Inphi 

Marvell Technology Group Ltd. is nearing a deal to buy Inphi, according to people familiar with the matter, in what would be the second big semiconductor tie-up this week as the industry rapidly consolidates.

Credit Suisse to Restart Buybacks Next Year 

Credit Suisse will restart buying back its own shares next year and plans to pay a higher dividend for this year.

Standard Chartered's Pretax Underlying Profit Falls 40% 

Standard Chartered's third-quarter pretax underlying profit slumped 40%, as credit impairments continued to rise sharply due to the pandemic, albeit at a slower pace than in previous quarters.

Airbus Books a 3rd Quarter Net Loss 

Airbus reported a net loss in its third quarter and booked a restructuring provision in the face of a persistent coronavirus pandemic that has been particularly hard on the aviation industry.

Samsung Posts Profit Increase as Pandemic Fuels Tech Demand 

Samsung Electronics reported its largest profit in more than 18 months, fueled by a bounceback in smartphone sales and 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.

Tech CEOs Square Off With Senators Over Online Speech 

A Senate hearing in which lawmakers tangled with leaders of the largest social-media companies reflected deep discontent with their power to shape political discourse-and equally deep divisions over how to address it.

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.

(END) Dow Jones Newswires

10-29-20 0315ET

Stocks mentioned in the article
ChangeLast1st jan.
AIRBUS SE 2.15% 91.32 Real-time Quote.-31.48%
CREDIT SUISSE GROUP AG 0.21% 11.665 Delayed Quote.-11.18%
ETSY, INC. -0.59% 153.67 Delayed Quote.249.14%
GILEAD SCIENCES, INC. 0.07% 61.16 Delayed Quote.-5.94%
MARVELL TECHNOLOGY GROUP LTD. -2.02% 45.703 Delayed Quote.75.60%
PINTEREST, INC. -0.34% 67.99 Delayed Quote.265.93%
SAMSUNG ELECTRONICS CO., LTD. 2.51% 69500 End-of-day quote.24.55%
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