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$DFS said that its rewards rate for 1Q16 was up 4 basis points over 1Q15 due to higher promotional and standard rewards. Sequentially, the rewards rate was down 12 basis points. 4Q typically represent the seasonal high and also included the Apple Pay rewards bonus. Protection products revenue slid $10MM as new product sales remained suspended.
$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.