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Airline holding company $UAL reported a decline in its 1Q16 results, hurt by decline in passenger revenue per available seat mile (PRASM). $UAL said its net income decreased 38.4% to $313MM or $0.88 per share during the quarter compared to $508MM, or $1.32 per share during 1Q15. Revenue fell 4.8% to $8.2Bil.
$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.