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In 1Q16, $EBAY generated free cash flow of $483MM, up 19%. Capex was 7% of revenue and full-year Capex guidance remains 7-9%. At the end of 1Q16, cash, cash equivalents and non-equity investments was $10.3Bil. In 1Q16, $EBAY repurchased 42.3MM shares at avg. price of $23.57 per share amounting to $1Bil in repurchases.
$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.