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Kodak Plunges as Government Loan on Hold Pending Probes

August 10, 2020 admin Comments Off on Kodak Plunges as Government Loan on Hold Pending Probes

(Bloomberg) — Eastman Kodak Co. shares plunged Monday after a federal agency announced it was suspending a $765 million loan to help the former film company produce Covid-19 drugs, pending the outcome of investigations into potential wrongdoing.The International Development Finance Corporation said in a tweet Friday night that “recent allegations of wrongdoing raise serious concerns. We will not proceed any further unless these allegations are cleared.” Congress and the U.S. Securities and Exchange Commission are investigating the deal, and Kodak’s board said Friday it’s also opening a review of the loan disclosure.The stock tumbled as much as 43% before being …read more […]

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Barrick Boosts Dividends 14% With Windfall From Gold’s Rally

August 10, 2020 admin Comments Off on Barrick Boosts Dividends 14% With Windfall From Gold’s Rally

(Bloomberg) — Barrick Gold Corp. is returning some of the windfall it’s getting from gold’s record rally to its shareholders.The world’s second-largest gold miner increased its quarterly cash dividend 14% to 8 cents per share, the company said Monday in its second-quarter earnings statement.“The board believes that the dividend increase is sustainable and reflects the ongoing robust performance of our operations and continued improvement in the strength of our balance sheet,” the company said.Chief Executive Officer Mark Bristow said the strong cash generation demonstrated the quality of Barrick’s assets and management’s ability to capture the full benefit of higher gold …read more […]

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Did Hedge Funds Drop The Ball On Penn National Gaming, Inc (PENN)?

August 10, 2020 admin Comments Off on Did Hedge Funds Drop The Ball On Penn National Gaming, Inc (PENN)?

The latest 13F reporting period has come and gone, and Insider Monkey have plowed through 821 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F filings show the funds’ and investors’ portfolio positions as of March 31st, a week after the market trough. Now, we are […] …read more […]

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Kodak shares plunge after U.S. blocks $765 million loan deal

August 10, 2020 admin Comments Off on Kodak shares plunge after U.S. blocks $765 million loan deal

The U.S. International Development Finance Corp (DFC) was slated to grant the loan to Eastman Kodak, which is looking to move deeper into the pharmaceutical arena. U.S. President Donald Trump said last week the government would investigate the circumstances surrounding the announcement of the loan. “Recent allegations of wrongdoing raise serious concerns,” U.S. International Development Finance Corp (DFC) said late on Friday in a tweet. …read more […]

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Yahoo Finance Presents: Levi’s CEO Chip Bergh

August 10, 2020 admin Comments Off on Yahoo Finance Presents: Levi’s CEO Chip Bergh

On this episode of Yahoo Finance Presents, Levi Strauss & Co. President and CEO Chip Bergh sat down with Yahoo Finance’s Brian Sozzi to discuss the company’s activity during the coronavirus pandemic, including dispelling the myth of “athleisure” wear affecting sales, the looming uncertainty of the “back to school” clothes shopping season, consumer behavior during COVID-19, as well as future plans for both products and retail and brand expansion. …read more […]

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Marriott posts bigger-than-expected loss as virus hits bookings

August 10, 2020 admin Comments Off on Marriott posts bigger-than-expected loss as virus hits bookings

Marriott’s shares, down 40.3% this year, fell 3.8% in premarket trading as the company also reported an 84.4% plunge in revenue per available room (RevPAR) – a key performance measure for the hotel industry. “While our business continues to be profoundly impacted by COVID-19, we are seeing steady signs of demand returning”, Marriott Chief Executive Officer Arne Sorenson said in a statement. Marriott last reported a quarterly loss in the third quarter of 2011. …read more […]