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$GWW returned $315MM to shareholders in 2Q16, including $75MM in dividend and $241MM on repurchase of 1,033,000 shares. CapEx was $54MM in 2Q16, and for 2016 CapEx is expected to be $300-325MM versus earlier outlook of $300-350MM. Effective tax rate was 36.6% in 2Q16, and for 2016 effective tax rate is expected to be 36.8-37.8%.
$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.