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News Highlights: Top Company News of the Day

11/12/2020 | 05:16pm EST
Disney Reports Second Straight Quarterly Loss 

The entertainment company said it had a fourth-quarter loss of $710 million, or 39 cents a share. That follows the loss it reported for the third quarter, which was Disney's first quarterly loss since 2001.

Twitter Says Labels, Warnings Slowed Spread of False Election Claims 

Twitter said labels and warning messages on tweets it deemed misleading decreased the spread of misinformation on the platform during the election season.

Commerce Department Announces Stay of TikTok Shutdown Order 

The Commerce Department statement said the shutdown order won't go into effect "pending further legal developments."

Walmart Adding 'Pop-Up' Centers for Online Holiday Sales 

The 42 sites will hold fast-moving items in sections of warehouses that are traditionally used to ship pallets of goods to Walmart stores. The network of pop-up sites will ship up to 30% of Walmart's online holiday volume, the company said in announcing the plan Thursday.

Goldman Sachs's 60 New Partners Are the Happiest People on Wall Street Today 

The group is marginally more diverse than in past years and heavier on coders, but still dominated by traders and deal makers.

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.

Trump Bars Americans From Investing in Firms That Help China's Military 

The investment ban applies to 31 Chinese companies that the U.S. says support China's military.

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.

(END) Dow Jones Newswires

11-12-20 1715ET

Stocks mentioned in the article
ChangeLast1st jan.
CELLNEX TELECOM, S.A. 0.24% 50.44 Delayed Quote.2.44%
REVLON, INC. 0.10% 10.18 Delayed Quote.-14.31%
TENCENT HOLDINGS LIMITED 1.25% 691 End-of-day quote.22.52%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) -0.13% 6.4835 Delayed Quote.-0.16%
WALMART INC. 1.02% 146.33 Delayed Quote.1.51%
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