News Highlights: Top Company News of the Day - Wednesday at 11 PM ET
Summary
Big bank profits surged in the fourth quarter and Wall Street roared back to life, with net income rising 50% at JPMorgan Chase and more than doubling at Goldman Sachs.Insurance company State Farm has abandoned its plan to run a commercial in the coming Super Bowl, saying its focus is on supporting Los Angeles residents as wildfires there continue burning.Hindenburg Research founder Nate Anderson, a foe of Carl Icahn and the Adani family, cites the stress of his job as he shuts down the firm.DuPont previously planned to separate its Electronics and Water businesses and brand the remaining unit as "New DuPont." At the time, DuPont said the separate companies would have more flexibility for their own growth strategies.Federal prosecutors said BitMEX flouted the rules while doing business with U.S. customers.The lithium technology startup backed by Rio Tinto plans to test a process that could help unlock untapped lithium sources in the U.S. and lessen Chinas grip on global refining of the battery metal.Eli Lilly said it received Food and Drug Administration approval for its treatment for moderate to severely-active Crohns disease, an inflammatory bowel disease that causes chronic abdominal pain.Block has agreed to pay $80 million in a settlement with dozens of state regulators over alleged problems with its program to counter money laundering.QXO publishes offer to buy Beacon for $124.25 per share, says it has been rebuffed time and again.Joann filed for bankruptcy, its second in less than a year as the company looks to maximize the value of its business.