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$SLB 2Q15 Call: Pre-tax operating margins decreased 84 bps to 26.5% due to lower exploration activities, offset by increased higher margin software sales. Effective tax rate exluding charges and credits was 21.1% vs. flat in 1Q15. Net debt grew $111MM in 2Q15 to $5.6Bil. CapEx was $587MM in 2Q15 and expected to be $2.5Bil in FY15.
$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.