News Highlights: Top Company News of the Day
Discovery Revenue Falls as Covid-19 Pandemic Hits Ad Revenue
Revenue at the parent company of networks including HGTV, Food
Network and TLC fell about 12% to $2.54 billion in the quarter
ended June 30.
CVS Raises Full-Year Expectations, Benefits From Insurance Business
CVS Health raised its expectations for the full year as its
insurance business booked lower health-care benefit costs due to
the deferral of elective procedures amid the coronavirus
Commerzbank Takes Hit on Wirecard Loan
Commerzbank, Germany's second-largest lender, took a big
financial hit from its exposure to fintech firm Wirecard.
Quicken Loans Parent Prepares for a Big IPO
A red-hot mortgage market could propel the country's top
mortgage lender to one of the biggest public offerings this
SEC Probing Kodak Loan Disclosure, Stock Surge
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.
U.S. Seeks as Much as $18.1 Billion From Purdue Pharma
The Justice Department is seeking as much as $18.1 billion from
bankrupt opioid maker Purdue Pharma, new filings show, a demand
that could disrupt the company's monthslong effort to reach a
settlement with states and local communities that accuse it of
helping fuel the opioid crisis.
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.
Walmart Health-Care Executive to Depart
Sean Slovenski, who leads Walmart's health-care ambitions, is
leaving the company, people familiar with the matter said, as the
retail behemoth navigates the operational complexity of the
Insurers Report Mixed Results From Covid-19
Two giant sellers of insurance to consumers-Allstate and
Prudential Financial-reported results that reflected the
far-ranging impact of Covid-19.
TWC Tech, SPAC Backed by Former KKR Executives, Files for IPO
TWC Tech Holdings II Corp., a so-called blank-check company
backed by former KKR & Co. executives Adam Clammer and Jamie
Greene, is trying to raise some $525 million through an initial
public offering and private placement, according to a securities
(END) Dow Jones Newswires
August 05, 2020 09:15 ET (13:15 GMT)
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