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News Highlights: Top Company News of the Day

11/12/2020 | 11:16pm EST
U.S. Backs Down on TikTok 

The Commerce Department's action delays implementation of a regulation, set to take effect Thursday, that would effectively make the video-sharing app inoperable in the U.S.

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

The ban applies to 31 companies including state-run aerospace, shipbuilding and construction enterprises.

China's President Xi Jinping Personally Scuttled 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.

At Disney, Streaming Soars as Other Businesses Struggle 

Disney posted its second consecutive quarterly loss, as the effects of the pandemic ravaged core businesses like theme parks and movie distribution that aren't expected to return to normal in the foreseeable future.

Palantir Boosts Its Full-Year Revenue Outlook 

Data analysis company Palantir Technologies raised its annual revenue outlook after it posted better-than-expected sales in the third quarter on increasing demand for its software.

LinkedIn Finds Measurement Errors That Inflated Video and Ad Metrics 

The errors affected more than 418,000 advertisers on the professional networking platform for over two years. The company said 90% of those affected overpaid by less than $25 and would receive credits for future campaigns.

Cisco Taps Autodesk Executive as CFO 

Cisco named an industry veteran as its new finance chief, beefing up the network-equipment firm's efforts to enhance its subscriptions and software business.

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.

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.

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.

(END) Dow Jones Newswires

11-12-20 2315ET

Stocks mentioned in the article
ChangeLast1st jan.
AUTODESK, INC. -5.37% 276.21 Delayed Quote.-3.83%
CISCO SYSTEMS, INC. 1.24% 45.835 Delayed Quote.0.63%
PALANTIR TECHNOLOGIES INC. 13.51% 39.4825 Delayed Quote.50.19%
TENCENT HOLDINGS LIMITED 10.93% 766.5 End-of-day quote.35.90%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.27% 6.48904 Delayed Quote.-0.15%
WALMART INC. -2.37% 144.112 Delayed Quote.2.33%
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