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News Highlights: Top Company News of the Day

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08/05/2020 | 03:16am EDT
BMW Confirms Outlook After 2Q Loss 

BMW reported an operating loss of EUR666 million in the second quarter and confirmed its guidance for the year, warning however, that pre-tax before is expected to be "significantly lower than in 2019."

Commerzbank Forecasts Loss For 2020 

Commerzbank said it expects to report a loss this year after it posted a 21% fall in second-quarter profit to EUR220 million, hit by sharply higher provisions.

Allianz Confident on Outlook 

Allianz reported a fall in second quarter operating profit to EUR2.57 billion following weakness at its property-casualty business, but said it expected "a solid financial performance" for the rest of 2020.

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.

TikTok Standoff Raises Fear of Retaliation Against U.S. App Developers 

Digital companies making inroads in China could face heat should Beijing respond in kind to U.S. tactics.

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.

SEC Probing Kodak Loan Disclosure, Stock Surge 

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.

Justice Department Seeks as Much as $18.1 Billion From Purdue Pharma 

The Justice Department is seeking as much as $18.1 billion from bankrupt opioid maker Purdue Pharma, new filings show, a demand that could disrupt the company's monthslong effort to reach a settlement with states and local communities that accuse it of helping fuel the opioid crisis.

Walmart Health-Care Executive to Depart 

Sean Slovenski, who leads Walmart's health-care ambitions, is leaving the company, people familiar with the matter said, as the retail behemoth navigates the operational complexity of the coronavirus pandemic.

Insurers Report Mixed Results From Covid-19 

Two giant sellers of insurance to consumers-Allstate and Prudential Financial-reported results that reflected the far-ranging impact of Covid-19.


Stocks mentioned in the article
ChangeLast1st jan.
ALLIANZ SE -1.46% 161.98 Delayed Quote.-25.83%
BMW AG -2.61% 59.06 Delayed Quote.-19.25%
COMMERZBANK AG -2.15% 4.002 Delayed Quote.-27.46%
EASTMAN CHEMICAL COMPANY 0.34% 77.3 Delayed Quote.-2.47%
MICROSOFT CORPORATION 2.28% 207.82 Delayed Quote.28.85%
NOVAVAX, INC. 10.86% 113.56 Delayed Quote.2,753.27%
PRUDENTIAL FINANCIAL, INC. 1.03% 62.08 Delayed Quote.-33.77%
WALMART INC. 0.42% 137.27 Delayed Quote.15.51%
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