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$FL said 1Q16 net income was $191MM, compared with net income of $184MM in the same period of 2015. Earnings were $1.39 per share, a 7.8% increase from the $1.29 per share earned in the comparable period last year. Total first quarter sales increased 3.7% to $2.0Bil this year, compared with sales of $1.9Bil a year ago.
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.