News Highlights: Top Company News of the Day
13 August 2020 - 2:30AM
Dow Jones News
J.C. Penney Landlords Nearing Deal to Buy Bankrupt Retailer
Two of J.C. Penney's largest landlords have emerged as the
leading contenders to acquire the department-store chain's retail
business out of bankruptcy, according to people familiar with the
matter.
Facebook and Other Tech Giants Gird for Chaotic Election
Social-media platforms are talking with federal officials as
President Trump questions the legitimacy of voting by mail.
Cisco to Pursue Deep Cost Cuts in Corporate Tech-Spending Slowdown
Networking-equipment giant Cisco Systems Inc. posted its first
annual revenue decline in three years and said it would pursue deep
cost cuts as customer priorities have shifted during the
coronavirus pandemic.
Lyft Ridership, Revenue Drop Amid Rising Coronavirus Infections
Lyft reported a dramatic drop in riders and revenue in the
second quarter, as rising coronavirus infections in the U.S. and
prolonged shutdowns weighed in on its results.
Waystar Agrees to Buy eSolutions at $1.3 Billion Valuation
Health-care payments business Waystar has agreed to acquire
eSolutions in a deal that values the revenue cycle management
provider at around $1.3 billion, according to people familiar with
the matter.
Revlon Lenders Sue Over 'Theft' of $1.8 Billion Loan Collateral
Revlon faces a lawsuit alleging the cosmetics company siphoned
off valuable intellectual property that had been pledged to
investors, depriving them of the collateral they bargained for.
As Trump Administration Seeks WeChat Restrictions, Tencent Profit Surges
The Chinese internet giant played down threats from potential
U.S. curbs on its flagship app, as higher spending through
Tencent's services and games drove better-than-expected profit and
revenue in the second quarter.
Lyft Ridership Takes Big Turn Lower: Earnings at a Glance
Ride-hailing company Lyft said active riders fell to 8.7 million
in the quarter, down from 21.8 million in the year-earlier quarter.
Cisco Systems, meanwhile, said sales fell 9%.
College Football Postponements Jeopardize Fox, ESPN Ad Bonanza
The TV networks stand to miss out on hundreds of hours of
Saturday sports programming and big chunks of advertising revenue
this fall if the bulk of college football's season doesn't happen
until next year.
NFL Executive and League's Highest-Ranking Woman Steps Down
NFL chief operating officer Maryann Turcke, the No. 2 at the
league offices, is stepping down from her position as part of a
broader shake-up inside the NFL's headquarters.
(END) Dow Jones Newswires
August 12, 2020 21:15 ET (01:15 GMT)
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