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News Highlights: Top Company News of the Day

11/12/2020 | 01:16pm EST
China's President Xi Jinping Pulled Plug on Jack Ma's Ant IPO 

Senior government leaders were furious about the wealthy entrepreneur's criticisms of regulators in an Oct. 24 speech. The rebuke was the culmination of years of tense relations between China's most celebrated entrepreneur and a government uneasy about his influence.

Tencent Pledges Cooperation Amid Chinese Scrutiny 

Tencent, the world's biggest videogame company by revenue, said its profit in the September quarter soared 89% to 38.54 billion yuan, equivalent to $5.81 billion, from the same period last year.

Revlon Reaches Deal to Avoid Bankruptcy 

The cosmetics company said it has obtained adequate support from bondholders to avert a bankruptcy filing.

Cellnex to Buy CK Hutchison's European Tower Businesses in $11.8B Deal 

Cellnex Telecom said that it has reached an agreement to acquire CK Hutchison's European tower businesses and assets for an initial investment of about 10 billion euros.

The Covid Vaccine News Is Great-but You Just Issued Dirt-Cheap Stock 

Pfizer's coronavirus vaccine results have made the price of Rolls-Royce's rights issue appear very low in retrospect.

Boeing Forecasts Strong China Demand 

Boeing Co. on Thursday released strong forecasts for China's aircraft demand, even as the aerospace company said it expects a weaker global market amid the coronavirus pandemic.

Nissan Is an Unlikely Pandemic Winner 

The pandemic has been surprisingly helpful to the turnarounds underway at Nissan and its French alliance partner Renault.

Siemens Profit Beats Expectations 

Siemens' industrial profit margin for the fourth quarter came in at 18.7%, while its net profit topped forecasts at EUR1.76 billion, as the engineer

Generali Posts Operating Profit Rise 

Generali posted a 2.3% rise in 9-month operating profit, as a strong performance in its asset-management business and property and casualty operations offset a decline in the life segment, but its net profit fell 40% on impairments.

Scanwell Aims to Offer Instant At-Home Covid Antibody Test 

Startup seeks FDA approval for an antibody test which it hopes will allow people to easily stay abreast of their immunity. The company is also readying an at-home antigen test as well as one for chronic kidney disease.

(END) Dow Jones Newswires

11-12-20 1315ET

Stocks mentioned in the article
ChangeLast1st jan.
ASSICURAZIONI GENERALI S.P.A. 0.31% 14.505 Delayed Quote.1.40%
CELLNEX TELECOM, S.A. 0.30% 47 Delayed Quote.-4.60%
RENAULT -1.30% 34.18 Real-time Quote.-3.16%
REVLON, INC. -1.95% 10.2164 Delayed Quote.-12.29%
SIEMENS AG 1.15% 121.22 Delayed Quote.1.97%
TENCENT HOLDINGS LIMITED -0.30% 655 End-of-day quote.16.13%
THE BOEING COMPANY 3.13% 210.497 Delayed Quote.-4.55%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) -0.25% 6.4772 Delayed Quote.-0.23%
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