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$JCP said its BoD appointed CEO Marvin Ellison to additional position of Chairman, effective Aug. 1, 2016. Ellison succeeds Myron Ullman, III who will be retiring in accordance with transition plan that $JCP outlined in 2014. Longtime retail executive Ronald Tysoe, who has served on board since 2013, will continue as Lead Independent Director.
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.
Samsung chief Jay Y. Lee arrested under $36 million bribery charges. Stocks are also down. This is going to impact the sale of its Galaxy 8, set for April release. Here’s an opportunity for $AAPL to capitalize on a rival’s fall.