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$FL said that its flagship Foot Locker store on 34th Street was closed for the entire 2Q16 negatively impacting the total company comp by tens of basis points. Foot Locker US division was impacted by more than 100 BPs in 2Q16. Foot Locker Europe, Foot Locker Asia-Pacific and Footaction had mid single-digit comps in the quarter.
The U.S. Treasury will be receiving $10 billion as dividends from the combined government-backed mortgage giants Fannie Mae and Freddie Mac. This is a sign that a recovered housing market is allowing the once-ailing firms to subsidize federal government spending.
$CSCO shift from hardware to becoming a software behemoth seems to be working for the company so far. Stock has seen a steady rise since the change. But is it sustainable?
Heard about the next generation iPhone. Going by the reports, it is believed that $AAPL will release three iphones this year.
Samsung chief Jay Y. Lee arrested under $36 million bribery charges. Stocks are also down. This is going to impact the sale of its Galaxy 8, set for April release. Here’s an opportunity for $AAPL to capitalize on a rival’s fall.