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Industrial packaging company $GEF reported a rise in 2Q16 earnings on lower costs and expenses as well as higher gain on disposal of businesses. Net income rose to $31.4MM or $0.53 per Class A common share from $20.8MM or $0.35 per Class A common share. Net sales fell to $839.6MM from $915.9MM. Excluding items, EPS slid to $0.47 from $0.53.
$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.