News Highlights: Top Company News of the Day

Features Dow Jones Newswires

IBM Revenue Drops Again

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IBM had gains in its hardware and artificial-intelligence divisions in the third quarter but over all profit and sales declined, a sign the company's drawn-out transformation still has a way to go.

Soros Transfers $18 Billion to Foundation, Creating Instant Giant

The 87-year-old pioneer of hedge-fund investing has transferred the bulk of his fortune to Open Society Foundations, which vaults it into the big leagues. Soros Fund Management is expected to show a tamer investing style now the firm has a philanthropy as its main client.

Roy Price Resigns as Head of Amazon Studios

Roy Price is out as head of Amazon Studios, days after details of a two-year-old accusation of sexual harassment became public.

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Goldman Posts Surprise Profit Rise Despite Trading Woes

Goldman Sachs's investment bankers and portfolio managers drove a surprise rise in quarterly profit, compensating for another rough spell for the Wall Street firm's once-unstoppable traders.

J.P. Morgan to Buy Payments Firm WePay in First Major Fintech Buy

J.P. Morgan Chase said that it agreed to buy payments company WePay in the bank's first sizable acquisition of a financial-technology startup.

Morgan Stanley's Earnings Rise on Strength in Wealth Management

Morgan Stanley said its third-quarter profit rose 12% to $1.78 billion as its giant wealth-management business continued to churn out reliable and growing profits even as trading revenue declined.

SoftBank Venture Seeks 8,000 Cellular Sites Across U.S.

Japanese telecom giant SoftBank Group plans to form a joint venture with Australia's Lendlease Group to build or manage about 8,000 cellular sites across the U.S., challenging tower operators that dominate the industry.

GM Plans to Make Systems for Autonomous Cars

GM plans to make the bulk of the systems that go into an autonomous car, a shift from its previous strategy that thrusts it into direct competition with tech giants.

Facebook's Head of Research Lab Is Resigning

Regina Dugan, the head of Facebook Inc.'s cutting-edge hardware lab, Building 8, is stepping down after a year and a half.

Saudi Oil Minister Downplays Prospect of Aramco Abandoning IPO

Saudi Arabia still plans to publicly list a portion of its state oil company in 2018, the kingdom's oil minister said Tuesday, after reports that the effort may be abandoned.

(END) Dow Jones Newswires

October 17, 2017 19:15 ET (23:15 GMT)