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Industrial supply company $GWW reported 1Q16 net earnings attributable to the company of $186.7MM or $2.98 per diluted share, down 12% versus $211MM or $3.07 per diluted share in 1Q15, hurt by higher cost of merchandise sold. Net sales rose 3% to $2.5Bil, driven by revenue growth in the Other Businesses segment.
$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.