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Automotive retailer $AN reported a decline in 2Q16 earnings due to higher non-operating expenses. Net income fell to $112MM from $115.1MM last year, while EPS rose to $1.08 from $1.00 on lower weighted average common shares outstanding. Revenue grew to $5.44Bil from $5.22Bil.
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.