News Highlights: Top Company News of the Day
04 August 2020 - 10:30PM
Dow Jones News
Disney Posts a Nearly $5 Billion Loss
The entertainment company's revenue fell 42% in the latest
quarter as the pandemic wreaked havoc on its theme parks and other
businesses, resulting in a $4.72 billion loss.
Fox Posts Lower Quarterly Profit on Decline in Advertising Revenue
Fox reported lower profit for its latest quarter, hit by a fall
in advertising revenue amid a pandemic-related pullback in live
sporting events.
Wynn Resorts Revenue Drops Nearly 95%
The casino operator lost $523 million in the three months ended
June 30, versus about $219 million in operating income a year
earlier.
Novavax Covid-19 Vaccine Produces Positive Results in First-Stage Study
Novavax said its experimental coronavirus vaccine induced
promising immune responses and was generally well-tolerated in
healthy adults in the first human study of the shot.
Microsoft CEO Nadella Wades Into U.S.-China Tensions in TikTok Pursuit
Merger deals are rarely simple. But Microsoft's CEO now is
attempting to ink a takeover agreement that satisfies not only both
the companies and their shareholders, but two governments in bitter
competition for technological clout.
CME Settles Lawsuit With Regulator Over Leaks by Former Employees
Futures-exchange operator CME Group has agreed to pay a fine of
up to $4 million to settle a long-running lawsuit with its
regulator over accusations that former exchange employees leaked
confidential trading information.
Phil Schiller, Friend of Steve Jobs Who Helped Remake Apple, to Be 'Apple Fellow'
Phil Schiller, a close friend of Steve Jobs who helped remake
Apple, is stepping aside as the tech giant's head of marketing and
will become an "Apple Fellow."
Kodak Loan Disclosure and Stock Surge Under SEC Investigation
The Securities and Exchange Commission is investigating the
circumstances around Eastman Kodak's announcement of a $765 million
government loan to make drugs at its U.S. factories, according to
people familiar with the matter.
AIG Results Look Grim but Represent Progress
The finalized sale of a legacy reinsurance unit generated huge
accounting losses but is a necessary step in slimming and firming
AIG's core business.
Booking.com Plans to Lay Off Up to 25% of Workforce
Booking Holdings plans to cut up to a quarter of Booking.com's
global workforce, or roughly more than 4,000 people, and
restructure the company as the Covid-19 pandemic continues to
batter travel demand.
(END) Dow Jones Newswires
August 04, 2020 17:15 ET (21:15 GMT)
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