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$REX said that 2Q16 income before tax was $13.5MM vs. $27.4MM in 2Q15. Backing out the $2.5MM Patriot equity method contribution and $10.4MM pretax gain from its sale and other related effects in 2Q15, income before tax and non-controlling interest is $13.5MM. Tax rate for 2Q16 and YTD was approx. 35.5% net of non-controlling interest.
$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.