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$PSA posted higher earnings in 2Q16, helped by higher revenues and operating income compared to 2Q15. Net income allocable to common shareholders was $280.8MM or $1.61 per diluted common share, compared to $263.9MM or $1.52 in 2015, an increase of $16.9MM or $0.09. Revenue grew about 7.7% to $634.2MM in the quarter. Diluted FFO was $2.34.
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.