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News Highlights: Top Company News of the Day

02/16/2021 | 07:16pm EDT
Alden Global Capital Agrees to Buy Rest of Tribune Publishing 

The New York hedge fund, the largest shareholder in Tribune Publishing Co., has reached a deal that values the newspaper publisher around $630 million.

Marriott's Next CEO Likely to Come From Inside 

Two executives currently leading the hotel company's day-to-day operations are seen as the top choices to succeed Arne Sorenson, who died Monday.

Buffett's Berkshire Bets Billions on Verizon, Chevron 

The conglomerate has purchased $8.6 billion in the mobile carrier's stock and $4.1 billion in the oil company.

AIG Profit Falls on Catastrophes, Travel Insurance 

The company's closely watched adjusted income fell 10% in the fourth quarter, hurt by additional Covid-19 costs.

Palantir Shares Fall on Loss and Slower Sales Growth Expectations 

The stock dropped 13% after the data-mining company posted a quarterly loss, but revenue jumped 40%.

General Electric Expects to Burn Cash in First Quarter 

CEO Larry Culp said first-quarter cash flow would likely be negative, but improved from a year ago. The outlook for 2021 is unchanged.

Rockwell Automation Names Former 3M Executive as CFO 

Rockwell Automation on Tuesday said it named Nicholas Gangestad senior vice president and chief financial officer, effective March 1.

China Blocked Jack Ma's Ant IPO After Investigation Revealed Likely Beneficiaries 

Well-connected Chinese power players were behind layers of opaque investment vehicles that would have profited from the world's largest stock listing. The information added to concerns about financial risk and anger at Ma's outspoken criticism.

CoStar Group Submits Competing Offer to Buy CoreLogic 

A deal would combine CoreLogic, one of the largest residential real-estate data companies, with CoStar, among the biggest providers of commercial real-estate information and analytics.

Judge Lets Revlon Lenders Keep Citi's Botched $500 Million Payment 

A federal judge denied the bank's request to claw back roughly $500 million it mistakenly paid out of its own pocket to investment firms that made loans to the cosmetics company.

(END) Dow Jones Newswires

02-16-21 1915ET

Stocks mentioned in the article
ChangeLast1st jan.
3M COMPANY -0.12% 197.94 Delayed Quote.13.24%
CHEVRON CORPORATION -0.74% 101.81 Delayed Quote.20.56%
CORELOGIC, INC. 0.59% 80 End-of-day quote.3.47%
COSTAR GROUP CO., LTD. 5.57% 16.86 End-of-day quote.-18.04%
COSTAR GROUP, INC. 1.54% 88.85 Delayed Quote.-3.87%
GENERAL ELECTRIC COMPANY -2.56% 12.95 Delayed Quote.19.91%
LONDON BRENT OIL -0.85% 74.48 Delayed Quote.46.69%
MARRIOTT INTERNATIONAL, INC. -1.28% 145.98 Delayed Quote.10.66%
PALANTIR TECHNOLOGIES INC. -2.12% 21.71 Delayed Quote.-7.81%
REVLON, INC. -2.77% 10.9 Delayed Quote.-8.25%
ROCKWELL AUTOMATION, INC. 0.86% 307.42 Delayed Quote.22.57%
TRIBUNE PUBLISHING COMPANY 0.41% 17.26 End-of-day quote.25.99%
VERIZON COMMUNICATIONS -0.36% 55.78 Delayed Quote.-5.06%
WTI -0.89% 73.113 Delayed Quote.52.09%
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