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DJ News Highlights: Top Company News of the Day

· 02/04/2021 23:00
Punch Bowl Secures Ch. 11 Loan After Rival Investor Backs DownKKR SPAC Files for $1 Billion IPOFord's Results Hindered by Lower Truck OutputPrudential Reports 27% Drop in Profit, Resumes Share BuybacksT-Mobile Warns Investors of More Costs Ahead as It Digests SprintJ&J Seeks FDA Authorization for One-Shot VaccinePeloton Taps Brakes to Fix Delivery WoesStates Pressure Drugmakers After McKinsey's $600 Million SettlementNews Corp Posts Most Profitable Quarter Since 2013Chinese Video IPO Goes Viral With Investors

Kuaishou is the latest in a series of hot Hong Kong initial public offerings, with shares nearly tripling.

The New York-based media company said net quarterly profit nearly tripled.

The consulting firm reached deals with 49 states over advice it gave pharmaceutical companies to boost painkiller sales.

Sales and subscriptions more than doubled in the latest quarter despite long shipping delays that the company has promised to address as would-be customers vent their anger online.

The move sets the stage for a potential third vaccine to become available in the U.S. within weeks.

T-Mobile will spend $2.5 billion to $3 billion before taxes folding the stores, employees and network infrastructure it acquired from its one-time competitor into the new business.

The U.S.'s largest life insurer by assets was stung by low interest rates and the economic fallout from the pandemic.

The Detroit auto maker said through 2025 it will spend $22 billion on electric vehicles and another $7 billion to develop autonomous vehicles.

Blank-check company KKR Acquisition Holdings I Corp., sponsored by KKR & Co., in partnership with Glenn Murphy, filed for an initial public offering with the U.S. Securities and Exchange Commission.

Bankrupt "eatertainment" chain Punch Bowl Social Inc. won approval for up to $11.2 million in financing from CrowdOut Capital LLC after a competing lender dropped an objection that a bankruptcy judge called "salacious."

(END) Dow Jones Newswires

February 04, 2021 23:00 ET (04:00 GMT)

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