News

IPOs

SelectQuote Files for IPO

The online insurance broker is looking to raise $342 million that could value the company at more than $3 billion.
Bankruptcy

JCPenney Files Chapter 11 Despite Turnaround Gains

The iconic retailer says the progress it had been making after years of declining sales "was wiped out with the onset of COVID-19."
Financial Performance

Video Game Sales Hit Record $10.8B in Q1

Consumers confined to their homes by COVID-19 are turning to games not only as a diversion but also for social connection.
Regulation

Morningstar Settles Conflict of Interest Charges

The $3.5 million settlement is a rare enforcement action against a ratings agency over conflicts.
Financial Performance

Denny’s Off-Premise Sales Soften COVID Impact

With dine-in sales shut down, the company has waived delivery fees, provided curbside pickup and launched shareable family meal packs.
Insurance

Insurers Balk at Pandemic Coverage Proposal

Industry groups are "opposing any legislation that requires them to bear the risk of business-interruption losses from pandemics.”
Regulation

SEC Charges Two Companies Over Misleading COVID-19 Claims

The regulator said the companies made misleading claims over fever and blood tests.
Financial Performance

SmileDirect Sees Telehealth Boost From COVID

The company's Q1 results missed estimates but its performance "validates the strength, durability and flexibility of our business model.”
COVID-19

Democrats Release Coronavirus Relief Bill

The bill, which includes payroll assistance and aid to state and local governments, faces a chilly reception in the Senate.
Financial Performance

Sony Profit Dives in Q4 as Virus Hits Electronics

CFO Hiroki Totoki says Sony's consumer electronics unit has been hardest hit by the pandemic “but the impact will expand to other businesses."
Regulation

Fluor Shares Dive on News of 10-Q Delay

The engineering firm is facing investigations into its accounting by the SEC and Department of Justice.
The Economy

Core Inflation Posts Record 0.4% Drop in April

The coronavirus crisis drove consumer prices into "a disinflationary shock" last month despite government efforts to stimulate the economy.
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