News Highlights: Top Company News of the Day

08/04/2020 | 05:16pm
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.

 
Fox Posts Lower Quarterly Profit on Decline in Advertising Revenue 
 

Fox reported lower profit for its latest quarter, hit by a fall in advertising revenue amid a pandemic-related pullback in live sporting events.

 
Wynn Resorts Revenue Drops Nearly 95% 
 

The casino operator lost $523 million in the three months ended June 30, versus about $219 million in operating income a year earlier.

 
Novavax Covid-19 Vaccine Produces Positive Results in First-Stage Study 
 

Novavax said its experimental coronavirus vaccine induced promising immune responses and was generally well-tolerated in healthy adults in the first human study of the shot.

 
Microsoft CEO Nadella Wades Into U.S.-China Tensions in TikTok Pursuit 
 

Merger deals are rarely simple. But Microsoft's CEO now is attempting to ink a takeover agreement that satisfies not only both the companies and their shareholders, but two governments in bitter competition for technological clout.

 
CME Settles Lawsuit With Regulator Over Leaks by Former Employees 
 

Futures-exchange operator CME Group has agreed to pay a fine of up to $4 million to settle a long-running lawsuit with its regulator over accusations that former exchange employees leaked confidential trading information.

 
Phil Schiller, Friend of Steve Jobs Who Helped Remake Apple, to Be 'Apple Fellow' 
 

Phil Schiller, a close friend of Steve Jobs who helped remake Apple, is stepping aside as the tech giant's head of marketing and will become an "Apple Fellow."

 
Kodak Loan Disclosure and Stock Surge Under SEC Investigation 
 

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.

 
AIG Results Look Grim but Represent Progress 
 

The finalized sale of a legacy reinsurance unit generated huge accounting losses but is a necessary step in slimming and firming AIG's core business.

 
Booking.com Plans to Lay Off Up to 25% of Workforce 
 

Booking Holdings plans to cut up to a quarter of Booking.com's global workforce, or roughly more than 4,000 people, and restructure the company as the Covid-19 pandemic continues to batter travel demand.

 
 

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