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$EL's operating margin rose to 16% in 1Q16 from 13.2% in 1Q15. This was impacted by a favorable comparison of about $127MM related to accelerated orders into 4Q14, partially offset by unfavorable foreign currency translation of about $60MM. Adjusting for impact of accelerated orders, operating margin would have fell 90 basis points.
$GOOG’s Waymo accuses Uber of stealing its intellectual property. Startup Otto, which was recently acquired by Uber, also named in the lawsuit. Stage set for another dramatic legal battle!
We all knew $VALE CEO Murilo Ferreira was going out soon, but now I hear he has no idea who will succeed him!
$JCP, another traditional retailer that just shocked us with its biggest number of store closures.