News Highlights: Top Company News of the Day
August 06 2020 - 11:30AM
Dow Jones News
Nintendo's Pandemic Bonanza: a Billion-Dollar Profit
"Animal Crossing: New Horizons" sold more than 10 million copies
between April and June.
Bausch Health to Spin Off Eye-Care Business
Bausch Health said it plans to spin off its faster-growing
eye-care business from its core pharmaceutical operations, breaking
apart a company previous management had built through such
acquisitions.
Adidas Swings to Loss But Sees Recovery Under Way
Adidas said it expects revenue to recover as the sports-gear
group's stores continue to reopen and digital sales thrive after
the coronavirus lockdowns pushed the company into a net loss in the
second quarter.
Disney Looks for a Hit Streaming Sequel
The company's first direct foray into streaming has been an
undeniable hit. Even the Magic Kingdom might be hard-pressed to
keep the spell going.
Toyota Expects to Make $7 Billion Even in a Pandemic Year
Toyota Motor Corp. sees sales rebounding from the coronavirus
pandemic faster than it initially expected, leading the company to
bolster its sales projections and forecast a nearly $7 billion
profit for the full year.
Rocket's Refinance-Fueled Blastoff Might Not Last
Investors buying into the IPO of Rocket Companies, long known by
its Quicken Loans brand, must account for a likely slowdown in
extraordinary mortgage activity.
Glencore Scraps Dividend, Posts Loss as Coronavirus Saps Demand
Commodities giant Glencore reported a loss for the first half of
the year and scrapped its dividend, as the coronavirus pandemic
sapped demand and lowered prices and production at its mining
division.
Calpers Investment Chief to Step Down From Largest U.S. Pension
Ben Meng resigned after about a year and a half in the position,
marking an abrupt exit for the investment chief, who set out to
implement a reform agenda.
Etsy Might Need to Get Even More Crafty
Online marketplace Etsy reported stellar second-quarter results,
but its rapid growth might be running out of legroom.
Facebook, Twitter Take Down Trump Video
Facebook and Twitter removed a video posted by President Trump
in which he said children are "almost immune" from Covid-19, a
claim that the companies said ran afoul of their rules against
harmful misinformation about coronavirus.
(END) Dow Jones Newswires
August 06, 2020 11:15 ET (15:15 GMT)
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