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Office supply store chain $SPLS reported 1Q16 net income of $41MM or $0.06 per diluted share, down 30.5% versus $59MM or $0.09 per diluted share in 1Q15, hurt by lower gross profit and higher interest expense. Total sales fell 3.1% to $5.1Bil versus $5.26Bil YoverY.
$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.