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$SJM's 2Q16 net sales grew 40% to nearly $2.1Bil driven by the addition of Big Heart Pet Brands. Excluding acquisitions and FX, the company's sales grew 2.5% helped by US Retail Coffee sales increase of 10%. Non-GAAP operating income grew $91MM or 36% reflecting addition of Pet Foods along with International & Foodservice growth performance.
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.