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News Highlights: Top Company News of the Day

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07/21/2020 | 02:16pm EDT
Covid-19 Prompts Walmart to Close Stores on Thanksgiving Day 

The retailer also plans to pay employees another special bonus in reaction to the pandemic. "We know it's been a trying year,' its U.S. chief told staff.

Men's Wearhouse, Jos. A. Bank Parent Looks to Close More Than Third of Stores 

Tailored Brands said it will also will lay off 20% of its corporate staff as the Covid-19 pandemic saps demand for its chains' apparel.

Tapestry Board Had Opened Probe Into CEO Zeitlin Before He Resigned 

Jide Zeitlin resigned as the chairman and chief executive of Tapestry amid a board investigation into his personal behavior, according to people familiar with the situation.

Carlyle Co-CEO Glenn Youngkin to Step Down 

Carlyle Group said its co-chief executive Glenn Youngkin will step down, leaving Kewsong Lee in sole charge of one of the world's largest private-equity firms.

Wells Fargo CFO John Shrewsberry to Leave 

Wells Fargo said it would replace its long-serving chief financial officer, the latest executive to leave as the bank's new CEO shakes up top management.

Coca-Cola Sales Fall 28%, but It Says the Worst Is Over 

The beverage giant said it believes the biggest challenges of the pandemic are behind it, despite the current surge in coronavirus cases in many parts of the U.S. Executives expect sales to improve in Asia and Europe.

Lockheed Martin Boosts 2020 Guidance 

The world's biggest defense company raised its full-year sales and profit guidance as the Pentagon accelerated defense contract awards and pledged to cover the industry's increased costs during the coronavirus pandemic.

Arkansas Pension Sues Allianz Over More Than $700 Million Loss 

An Arkansas public pension plan sued Allianz Global Investors and its corporate parent, alleging the money manager violated its fiduciary duties and abandoned risk controls when it sought to reverse February losses by doubling down on a series of unprofitable trades.

UBS's Focus on Wealthy Clients Cushions Against Losses 

Swiss lender UBS said it could start buying back stock again later this year despite the shadow over markets from the coronavirus pandemic.

Philip Morris Beats 2Q Expectations But Volumes Fall 18% 

Philip Morris International said its profit and sales fell for the latest quarter as the cigarette producer saw weaker demand and faced some manufacturing challenges tied to the Covid-19 pandemic.


Stocks mentioned in the article
ChangeLast1st jan.
ALLIANZ SE -1.76% 160.54 Delayed Quote.-26.49%
LOCKHEED MARTIN CORPORATION -1.54% 368.55 Delayed Quote.-5.35%
PHILIP MORRIS INTERNATIONAL INC. -1.07% 73.65 Delayed Quote.-13.44%
TAILORED BRANDS, INC. -1.11% 0.089 Delayed Quote.-97.85%
TAPESTRY, INC. -0.75% 21.27 Delayed Quote.-21.13%
THE CARLYLE GROUP INC. -4.41% 26.25 Delayed Quote.-14.40%
UBS GROUP AG -0.58% 11.195 Delayed Quote.-7.89%
WALMART INC. -1.17% 142.16 Delayed Quote.19.62%
WELLS FARGO & COMPANY -2.49% 22.7 Delayed Quote.-57.81%
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