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$HRL said its effective tax rate in 3Q16 was 28.6% versus 35.6% in 3Q15. The rate was favorably impacted by $14MM of one-time discrete tax items associated mainly with an international entity restructuring. For the full year 2016, the company expects its effective tax rate to be between 32.0-32.5%, including the one-time discrete items from 3Q16.
$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.