News Highlights: Top Company News of the Day
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
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
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
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
(END) Dow Jones Newswires
August 13, 2020 03:15 ET (07:15 GMT)
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