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$LNC, which engages in insurance and retirement business, reported a drop in 1Q16 earnings due to a decline in total average account balances and lower revenues. Net income fell to $201MM or $0.82 per share from $299MM or $1.15 per share last year. Revenues declined to $3.24Bil from $3.30Bil. EPS from operations decreased to $1.25 from $1.35.
$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.