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Specialty technology products company $SCSC reported a decrease in 4Q16 earnings due to lower gross margins. Net income was $12.9MM or $0.50 per share in 4Q16 compared with $16.4MM or $0.57 per share in 4Q15. Adjusted net income was $13.1MM or $0.51 per share. Net sales increased 2% to $877.5MM.
$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.