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In 3Q16, $COO's non-GAAP GM grew to 63.6%, mainly due to a favorable mix by Biofinity and favorable FX. Non-GAAP SG&A grew about 8% and non-GAAP R&D fell 2%. Consolidated GAAP operating income and margin were $102.7MM and 19.9% of revenue versus $50.3MM and 10.9% of revenue in 3Q15. Effective tax rate was 7.7% 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.