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$CA's income tax expense for 2Q16 rose to $75MM from $73MM last year and that for 1H16 increased to $163MM from $160MM. $CA's estimated annual effective tax rate, which excludes impact of discrete items, for 1H16 rose to 29.6% from 29.2% in the previous year period. $CA expects FY16 effective tax rate of 28-29%.
The U.S. Treasury will be receiving $10 billion as dividends from the combined government-backed mortgage giants Fannie Mae and Freddie Mac. This is a sign that a recovered housing market is allowing the once-ailing firms to subsidize federal government spending.
$CSCO shift from hardware to becoming a software behemoth seems to be working for the company so far. Stock has seen a steady rise since the change. But is it sustainable?
Heard about the next generation iPhone. Going by the reports, it is believed that $AAPL will release three iphones this year.
Samsung chief Jay Y. Lee arrested under $36 million bribery charges. Stocks are also down. This is going to impact the sale of its Galaxy 8, set for April release. Here’s an opportunity for $AAPL to capitalize on a rival’s fall.