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Software giant $MSFT posted weak 3Q16 results with a 25% drop in profit, hurt by net impact from revenue deferrals. Net income was $3.7Bil, or $0.47 per diluted share, down from $5Bil, or $0.61 per diluted share, a year ago. Revenue slid 6% YoverY to $20.56Bil. Adjusted EPS for the quarter was $0.62, flat compared to year ago quarter.
$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.