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News Highlights: Top Company News of the Day

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07/29/2020 | 02:16am EDT
Big Tech to Appear Before Congress on Wednesday 

Amazon, Apple, Facebook and Google will come under the glare of a national spotlight, as their CEOs face questions from members of Congress aiming to rein in what they believe is excessive power in the hands of a few giant companies.

AMC, Universal Agree to Trim Theatrical Window Before Movies Go Online 

Movies will play in theaters for much less time before moving to home video under a new agreement between theater chain AMC and Universal Pictures, upending the way Hollywood has done business for decades.

Kodak Shifts Into Drug Production With Help of $765 Million U.S. Loan 

The photography pioneer won a government loan under the Defense Production Act to help expedite domestic production of drugs and loosen the U.S.'s reliance on foreign sources.

Pfizer Foresees Lasting Demand for Covid-19 Vaccine 

Pfizer said it expects global demand for vaccinations against coronavirus illnesses to last at least several years, sharpening a long-term forecast for its experimental Covid-19 vaccine as the company moves forward with the final-stage of clinical testing.

Mondelez Is Stung by Coronavirus Lockdowns in Emerging Markets 

The food maker reported a 2.5% drop in second-quarter revenue even as its sales in North America surged.

L Brands Preparing to Cut 15% of Its Corporate Jobs 

L Brands Inc. said it plans to lay off about 850 corporate employees, or about 15% of the jobs at its home office, the latest restructuring at the embattled retail company.

Chip Maker AMD Raises Sales Outlook as Intel Battle Heats Up 

Advanced Micro Devices reported higher second-quarter earnings and lifted its full-year sales forecast, driven by growing demand for a new generation of high-performing processors.

Visa Profit Falls on Lower Payments Volume 

A drop in payments activity pushed Visa earnings down 23% in the quarter that ended in June.

Technology Companies See Stronger Results: Earnings at a Glance 

Advanced Micro Devices, Akamai Technologies and Seagate Technology were among companies reporting improved quarterly earnings despite headwinds from the Covid-19 pandemic.

Starbucks Logs Another Sales Hit From Coronavirus 

The coffee giant reported its steepest earnings-per-share losses in more than a decade as a result of lower sales and higher costs stemming from the pandemic.


Stocks mentioned in the article
ChangeLast1st jan.
ADVANCED MICRO DEVICES, INC. 2.12% 78.02 Delayed Quote.66.59%
AKAMAI TECHNOLOGIES, INC. -1.62% 95.82 Delayed Quote.12.76%
ALPHABET INC. 3.05% 1556.88 Delayed Quote.12.80%
APPLE INC. 3.71% 115.32 Delayed Quote.51.47%
FACEBOOK INC 4.92% 280.83 Delayed Quote.30.41%
INTEL CORPORATION -0.32% 44.11 Delayed Quote.-26.07%
L BRANDS, INC. 1.86% 32.87 Delayed Quote.78.09%
PFIZER INC. -0.48% 35.28 Delayed Quote.-9.52%
PFIZER LIMITED -1.04% 5031.65 End-of-day quote.19.12%
SEAGATE TECHNOLOGY PLC -0.17% 47.66 Delayed Quote.-19.76%
STARBUCKS CORPORATION 1.30% 88.3 Delayed Quote.-0.85%
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