Hertz Sold $29 Million in Stock Before SEC Stepped In
The bankrupt rental-car company raised $29 million selling its likely worthless stock before regulators dissuaded it from selling more.
Simon Sees Profit Nearly Halved as Mall Traffic Thins: Earnings at a Glance
Mall landlord Simon Property Group saw its profits nearly halved as the coronavirus kept traffic away. Cannabis company Tilray, meanwhile, said revenue rose, but its loss widened.
IAC/InterActive Bets $1 Billion on 12% MGM Resorts Stake
IAC/InterActiveCorp. has spent just over $1 billion to build a 12% stake in MGM Resorts and plans to help the casino operator expand its online-gambling business.
Kodak Shares Fall as Planned $765 Million Loan Is Put on Ice
Kodak shares lost more than a quarter of their value after news that a planned $765 million loan to the company was put on hold amid congressional and regulatory scrutiny.
Disney Investors Could Look Goofy Soon
Investors rushing to ride Disney on the hope of pandemic recovery could be in for a long and uncomfortable wait.
LCN Capital Reaches Target for North American and European Real Estate Debt Strategies
The New York-based firm has hit its targets of $500 million for LCN North American Fund III LP and EUR500 million ($587.6 million) for LCN European Fund III SLP, the person added.
Target Hits on Winning Formula Amid Covid Pandemic
Surging e-commerce sales at Target during the coronavirus pandemic should translate into a lasting advantage.
Barrick Gold Stock Continues to Rise After Earnings Beat
For the second quarter, Barrick reported earnings of 20 cents a share, ahead of consensus estimates calling for 18 cents a share, according to FactSet.
Aramco's Dividend Discipline Isn't Enough
Oil industry investors have been rocked by two jarring dividend cuts this year, but the biggest oil company of them all has stayed the course. That discipline will do little to attract foreigners to Saudi Aramco, though.
McDonald's Sues to Recover Severance From Fired CEO
The fast-food giant is seeking to recoup tens of millions of dollars it paid to Steve Easterbrook in severance and benefits, alleging that he lied to the board about sexual relationships with employees before his ouster last fall.
