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Currency reduced reported net revenues by $150MM in 3Q15 and almost $300MM YTD. $MAT has market leading positions in Mexico and Brazil with Peso and Real deprecated by 20% and around 40% YoverY in the quarter. $MAT also saw Russian Ruble weaken by around 40% YoverY. $MAT expects revenue to be negatively impacted by foreign exchange in 4Q15.
$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.