News Highlights: Top Company News of the Day

07/29/2020 | 05:16pm
J.C. Penney Lawyer Says Company Nearing Sale, Won't Liquidate 

The retailer expects to sell itself in coming months to a bidder that will keep its stores operating under the current name, J.C. Penney's lead bankruptcy lawyer said.

Total Takes $8 Billion Write-Down on Weak Oil Outlook 

The French energy giant is reducing the value of its Canadian oil-sand assets and LNG assets in Australia, citing higher costs and lower demand.

Treasury to Make TikTok Recommendations to Trump This Week 

Treasury Secretary Steven Mnuchin said a review led by his department into whether the popular Chinese video-sharing app poses national-security threats would present its recommendations to President Trump.

Blue Apron, Scotts Miracle-Gro Benefit From Stay-at-Home Measures: Earnings at a Glance 

As the Covid-19 pandemic led more people to stay at home, demand rose for goods such as Blue Apron meal kits and Scotts Miracle-Gro lawn and garden products, boosting quarterly results for both companies.

Big Tech's Power Comes Under Fire at Congressional Antitrust Hearing 

Lawmakers raised concerns about the market dominance of giant U.S. technology companies at the outset of a hearing with four top tech CEOs, though Democrats appeared more inclined than Republicans to support government action to curb their power.

Roche Arthritis Drug Fails Covid-19 Testing 

Actemra's results are the latest setback for a class of drugs that doctors hope can halt a haywire immune reaction linked to the new coronavirus.

Shopify's Business Sells Itself, for Now 

Companies rushed to Shopify's online retail platform amid the pandemic, driving eye-popping quarterly results for a company that was already growing at an impressive clip. But is that kind of growth sustainable?

Theaters About to Get More Hooked on Blockbusters 

Shortened release window will eventually mean fewer, bigger movies still able to draw a crowd.

Blue Apron Swings to Profit Amid Pandemic 

Blue Apron Holdings reported its first profitable quarter since going public three years ago, buoyed by higher demand for cooking at home during the coronavirus pandemic.

GM Posts Quarterly Loss but Beats Analyst Estimates 

Factory shutdowns in the U.S. took a bite, although resilient sales of pricey pickup trucks lifted results.


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