News Highlights: Top Company News of the Day
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
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%.
Facebook and Other Tech Giants Gird for Chaotic Election
Social-media platforms are talking with federal officials as
President Trump sounds the alarm on the voting process and the
potential for fraud.
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
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.
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.
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.
Goldman Sachs Vies for GM's Credit Card, Betting on Connected Cars
The Wall Street firm is among a small number of bidders for the
auto maker's credit-card business, which has about $3 billion in
outstanding balances, according to people familiar with the matter.
Barclays is also in the running.
Sumner Redstone Dies at 97; Media Mogul Who Said 'Content Is King'
Sumner Redstone, who turned his family's movie-theater company
into a global media empire spanning television, movies, radio and
books, has died.
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 19:15 ET (23:15 GMT)
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