WASHINGTON—Some public companies reported receiving coronavirus relief loans, prompting questions about how large companies are tapping the emergency fund intended for struggling mom-and-pop businesses.
A Morgan Stanley report showed that nearly 40 publicly traded companies received Payroll Protection Program (PPP) loans worth at least $243 million. Some of these companies have market valuations in excess of $250 million, including oil services company DMC Global Inc., health care company MannKind Corp., and the cruise operator Lindblad Expeditions Holdings Inc.
