Unloved Toshiba Stock Is About to Reward Suitors Again

Activist investors have faced a setback at Toshiba, but there are nonetheless hopes the Japanese company's fortunes could change for the better.

 
Zurich Insurance Profit Falls 40%

Zurich Insurance reported a steep drop in first-half operating profit to $1.70 billion, and cautioned that it expects little growth this year in net earned premiums from property and casualty risk.

 
Deutsche Telekom Boosted by Sprint

Deutsche Telekom raised its guidance for the year after it reported an above-forecast jump in second-quarter adjusted profit to EUR9.83 billion, thanks to the consolidation of Sprint.

 
Carlsberg Warns on Profit

Carlsberg said it expects full-year organic operating profit to fall 10%-15%, and that it has decided not to start the second tranche of its buyback program.

 
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.

 
U.S. Mortgage Lenders Face New Fee to Cover Heightened Risks

Fannie Mae and Freddie Mac said they would impose a new fee to insulate themselves from losses on refinanced mortgages they guarantee, a sign of potential turbulence in the housing market and a move likely to generate pushback from lenders.

 
Lenovo's First-Quarter Net Profit Jumped 31%

Lenovo Group Ltd. said its net profit for the first quarter rose 31%, supported by surging demand for personal computers from workers and students forced to stay at home due to the coronavirus pandemic.

(END) Dow Jones Newswires

August 13, 2020 03:15 ET (07:15 GMT)

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