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News Highlights: Top Company News of the Day

07/22/2020 | 05:16pm
Tesla Posts Fourth-Consecutive Quarterly Profit 

The milestone makes the electric auto maker eligible for inclusion in the S&P 500. Analysts had expected a quarterly loss after coronavirus pandemic shutdowns.

Las Vegas Sands Swings to Loss Amid Plummeting Revenue 

Casino magnate Sheldon Adelson's Las Vegas Sands Corp. reported a 97% decline in revenue as the global pandemic dampens visitation to the gambling hubs of Las Vegas and Macau.

Microsoft Revenue Surges Though Cloud Growth Slows 

Its quarterly sales rose 13% on sustained strength for its Azure cloud-computing unit as customers shifted more work online during the coronavirus pandemic.

HCA Healthcare Profit Rises on Federal Aid, Returning Patients 

HCA, one of the nation's largest hospital chains, said federal pandemic-relief aid helped lift second-quarter profit in "a remarkable 91 days."

KPS Capital Partners to Buy the Maker of Humvees From MacAndrews & Forbes 

KPS's purchase of AM General dovetails with its experience investing in specialty vehicles and components. MacAndrews & Forbes, the investment firm of Ronald Perelman, is reshaping its portfolio in light of the coronavirus pandemic.

Apple Defends App Store Ahead of House Hearing 

Apple is defending how its App Store operates in the face of antitrust scrutiny, touting economic research it commissioned showing the fees it collects from developers are in line with those charged by other digital platforms.

Brooks Brothers Finds Buyer for Massachusetts Plant 

The retailer has found a buyer for its Massachusetts manufacturing plant, which most recently had been making masks to protect health-care workers battling the spread of Covid-19.

Disney World Actors Battle Their Union for Right to Return to Work 

Walt Disney World performers in Florida who have been kept out of the re-opened Magic Kingdom by a dispute with the Actors' Equity union over Covid-19 safety precautions are campaigning to get back to work.

Taiwan Lawmakers Call for Rebranding Flagship Airline, Changing Passport Design 

Taiwan's legislature approved proposals to rebrand the island's flagship airline, China Airlines, and make its passports more distinct from mainland Chinese ones-a move likely to irk Beijing.

Wirecard's Markus Braun Is Arrested Again as Scandal Embroils Angela Merkel 

German prosecutors arrested former Wirecard executives they say colluded to inflate the company's results by booking fake income as early as 2015, as the scandal spilled further into German politics.


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