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Cigarette and tobacco company $PM posted lower earnings during 2Q16 as cigarette shipment volume was affected by declines in low-margin geographies. Net income fell 5.2% to $1.79MM and diluted EPS fell 5% to $1.15 vs. 2Q15, hurt by lower earnings in the EEMA, Asia and Latin America and Canada segments. Net revenues rose 1.5% to $19.04Bil vs. 2Q15.
$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.