News Highlights: Top Company News of the Day
JPMorgan Profit Jumps on Strong Trading Quarter
JPMorgan Chase, the nation's largest bank, reported a 21% jump
in quarterly profit, boosted by a surge in its investment bank and
continued consumer strength.
Boston Scientific Shares Fall on Weak Preliminary Sales Numbers
Medical-device maker Boston Scientific reported preliminary
fourth-quarter results that fell shy of Wall Street's expectations,
sending shares down more than 7%.
Investment Banking Propels Citigroup's Profit
The New York bank said fourth-quarter profit rose 15% and beat
expectations on a surge in its investment banking operations.
MGM Resorts Agrees to Sell MGM Grand, Mandalay Bay
MGM Resorts International agreed to sell the MGM Grand and
Mandalay Bay resorts and casinos on the Las Vegas Strip to a joint
venture that includes private-equity and real-estate giant
Wells Fargo's Results Sink As Legal Problems Continue
Wells Fargo's quarterly earnings dropped 53% and fell short of
expectations as the bank set aside more money to resolve issues
tied to its sales-practices scandal.
As Justice Department Pressures Apple, Experts Say iPhone Easier to Crack
The escalation of a long-running encryption conflict between the
Justice Department and Apple has puzzled security experts who say
that new hacking tools have made it possible to gain access to many
of the company's devices in criminal investigations.
Fundbox Hires First CFO as Fintech Startup Eyes Future IPO
Marten Abrahamsen joined Fundbox in early January from The
Chernin Group LLC, a Los-Angeles-based investment firm, where he
was a partner since 2018. Before TCG, Mr. Abrahamsen was
responsible for Coatue Management LLC's investments in Grab
Holdings Inc. and Jet.com Inc.
Delta's Profit Rises on Strong Demand and Cheaper Fuel
Delta said lower fuel prices and buoyant demand from holiday
travelers helped drive up quarterly earnings, lifting the carrier
to its 10th consecutive year of profit.
Delaware Attorney General Settles Probe of 403(b) Provider
Delaware's attorney general has settled an investigation of
financial-services company Horace Mann Educators Corp. over
practices in retirement plans for teachers.
Energy Companies Seize the Day With Bond Refinancings
A surprise rally in riskier corporate bonds is providing
much-needed help to some energy companies with lower credit
ratings, allowing them to issue new bonds to push back looming
(END) Dow Jones Newswires
January 14, 2020 11:15 ET (16:15 GMT)
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