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Sales were down 9% YoverY in 4Q16 in $ATU's Engineered Solutions segment, compared to an 8% decline in 3Q16. Profit margins were pressured as a result of lower production levels and the resulting weak overhead absorption. The company had a $2MM warranty provision in 4Q16 that reduced this segment's margins by 200 BPs alone.
$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.