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News Highlights: Top Company News of the Day

10/30/2020 | 12:16pm EST
Billionaires Icahn, Perelman in Standoff Over Revlon's Fate 

Revlon's effort to escape having to file for bankruptcy is pitching the two Wall Street billionaires toward a showdown.

Credit Karma in Talks to Sell Tax-Preparation Business to Square 

The personal-finance portal's deal could head off potential antitrust objections to its pending $7.1 billion sale to TurboTax maker Intuit. A sale of the unit would require approval from the Justice Department.

Trial of Regeneron's Covid-19 Antibody Drug Is Halted in Sickest Hospital Patients 

Regeneron Pharmaceuticals suspended testing of its Covid-19 antibody drug in the sickest hospitalized patients because of a safety concern, the latest setback for antibody-drug trials in patients with advanced disease.

Altria Cuts Juul Valuation to Below $5 Billion 

The Marlboro maker slashed the value of its investment in Juul Labs, estimating the e-cigarette maker is worth less than $5 billion, after Juul told employees Thursday it had cut its own internal valuation to $10 billion.

UK Banks Can't Celebrate Despite Strong Results 

NatWest, Lloyds, Barclays and HSBC all booked lower provisions than forecast but warned of uncertainty from the coronavirus pandemic.

Huawei Slips to No. 2 in Smartphones 

The Chinese tech company fell behind Samsung Electronics in global smartphone shipments during the third quarter of the year, according to International Data Corp.

Exxon Posts Third Consecutive Quarterly Loss for First Time 

The Texas company also said it may write down the value of natural-gas assets worth as much as $30 billion, as the pandemic continues to pressure the world's biggest oil companies.

KKR's Profit Tops $1 Billion 

The firm posted a big jump in third-quarter profit as the value of its private-equity portfolio surged.

Supply-Chain Delays Hit Retailer Restocking Efforts 

Supply-chain bottlenecks as a crush of imports heads into U.S. seaports are pinching retailers' efforts to stock up as consumers pick up their spending.

Colgate-Palmolive 3Q Sales Rose 5.5% 

The consumer products company reported net income for the third quarter of $698 million, or 81 cents a share, compared with $578 million, or 67 cents a share, a year earlier.

(END) Dow Jones Newswires

10-30-20 1315ET

Stocks mentioned in the article
ChangeLast1st jan.
ALTRIA GROUP, INC. 1.99% 41 Delayed Quote.-17.85%
BARCLAYS PLC -3.43% 144.8594 Delayed Quote.-16.39%
EXXON MOBIL CORPORATION 6.66% 41.98 Delayed Quote.-39.84%
HSBC HOLDINGS PLC 0.16% 399.3005 Delayed Quote.-32.48%
INTUIT INC. 0.54% 345.2 Delayed Quote.31.79%
LONDON BRENT OIL 0.71% 48.44 Delayed Quote.-30.61%
REGENERON PHARMACEUTICALS -3.34% 506.1 Delayed Quote.34.79%
SAMSUNG ELECTRONICS CO., LTD. 0.30% 67700 End-of-day quote.21.33%
WTI 1.05% 45.47 Delayed Quote.-29.68%
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