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Citi analyst PJ Juvekar questions $DD as to what is the run rate R&D expense for the company alone. CEO Ed Breen says that the standalone run rate is around $1.7Bil in total spend. The company says that once it does the merger with Dow, it anticipates very little cost cutting. $DD says that it wants to have the R&D especially in the Ag business.
$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.