PPG Industries Inc
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Materials : Chemicals | Large Cap Value
Company profile

PPG Industries, Inc. manufactures and distributes a range of coatings and specialty materials. The Company has two segments: Performance Coatings and Industrial Coatings. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses. The Company's geographical segments include the United States, Canada, Western Europe, Latin America, Central and Eastern Europe, the Middle East, Africa and Asia Pacific. The Company's brands include PPG, GLIDDEN, COMEX, OLYMPIC, DULUX, SIKKENS, PPG PITTSBURGH PAINTS, MULCO, FLOOD, LIQUID NAILS, SICO, CIL, RENNER, TAUBMANS, WHITE KNIGHT, BRISTOL, HOMAX, DEKORAL, TRILAK, GORI, and BONDEX, among others.


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Fastly stock drops as strong earnings overshadowed by TikTok reliance

6:22 pm ET August 5, 2020 (MarketWatch)

Fastly Inc. (FSLY) shares dropped in the extended session Wednesday after the cloud-based online content services company identified video-sharing platform TiKTok as its largest customer following an earnings beat. Fastly shares fell 14% after hours, following a 6.3% decline in the regular session to close at $108.92 for a 443% year-to-date gain. In an interview with Barron's (http://www.marketwatch.com/articles/fastly-reports-earnings-and-says-tiktok-is-12-of-revenue-51596663815), Fastly Chief Executive Joshua Bixby said that TikTok was the company's single largest customer, accounting for 12% of revenue this past quarter. President Donald Trump has cited TiKTok as a national-security risk because of ownership by Chinese parent company ByteDance and has suggested the Treasury should get a cut of the purchase price should Microsoft Corp (http://www.marketwatch.com/story/how-acquiring-tiktok-could-hurt-microsoft-2020-08-04).(MSFT) acquire it. The company reported a second-quarter loss of $14.5 million, or 14 cents a share, compared with a loss of $15.6 million, or 25 cents a share, in the year-ago period. Adjusted earnings were 2 cents a share. Revenue rose to $74.7 million from $46.2 million in the year-ago quarter. Analysts surveyed by FactSet had forecast a loss of a penny a share on revenue of $71.4 million. Fastly expects an adjusted loss of a penny a share to net income of a penny a share on revenue of $73.5 million to $75.5 million in the third quarter. Analysts had forecast a loss of 4 cents a share on revenue of $72 million.

-Wallace Witkowski; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

August 05, 2020 18:22 ET (22:22 GMT)

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