News Highlights: Top Company News of the Day

Features Dow Jones Newswires

J.C. Penney Lowered Its Goals, Then Beat Them

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Shares of J.C. Penney jumped Friday after it easily beat the expectations it lowered only weeks before. Penney beat estimates on revenue and comparable-store sales in its latest quarter and posted a smaller loss than expected.

Equifax Apologizes as it Reports Earnings Drop, Outlines Next Steps

Executives on Equifax's first earnings call since it disclosed a massive breach in September detailed a challenging environment for the company as it works to overhaul its security measures.

HSBC Accounts Used for Transactions Linked to Suspected South Africa Kickbacks

South Africa's Gupta family used HSBC bank accounts in Dubai to transfer millions of dollars through companies that have been linked to suspected kickbacks for the sale of Chinese locomotives, according to documents.

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Hawaii's Island Air to Shut Down, End Flights on Friday

Hawaii's Island Air, which flew to remote destinations throughout the state, is shutting down.

Uber Suffers Setback as U.K. Court Rules Its Drivers Should Have Workers' Rights

Uber Technologies suffered a setback in a British court when an appeals tribunal reaffirmed a decision that the company must give its drivers employee rights like paid vacations.

Altice Shakes Up Top Ranks in Bid to Reassure Investors

Altice Chief Executive Michel Combes has resigned amid a raft of management changes as the cable company seeks to reassure investors after disappointing third-quarter results led to a rapid decline in its share price.

GE Dividend in Focus as Investors Await New Strategy

Investors and analysts are bracing themselves for a broad rethinking of how GE operates, including shedding business units, a dividend cut, and layoffs among GE's nearly 300,000-person workforce.

Social-Media App Musical.ly Is Acquired for as Much as $1 Billion

Musical.ly, the maker of a social-media app popular among teens and tweens, has agreed to be acquired by Chinese news and information site Beijing Bytedance Technology for as much as $1 billion.

Hot Topic Bondholders Cry Foul Over Torrid Spinoff

Hot Topic bondholders sued the retailer's private-equity owner, Sycamore Partners, over a subsidiary spinoff they say diminished their odds of being repaid.

Kobe Steel Points Finger at Careless Management, Overworked Employees in Scandal

Kobe Steel released a report Friday that blamed lax management and overworked employees for a product-quality scandal, saying the company has to restore trust to survive.

(END) Dow Jones Newswires

November 10, 2017 17:15 ET (22:15 GMT)