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Drug company $PRGO reported a wider 1Q16 loss due to higher impairment charges and a rise in selling and administrative expenses. Net loss widened to $133.1MM or $0.93 per share from $94.9MM or $0.67 per share last year. Net sales grew to $1.38Bil from $1.05Bil. Adjusted EPS decreased to $1.75 from $1.85.
$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.