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$RF reported 1Q16 effective tax rate of 29.3%, including a benefit related to the conclusion of a state tax examination. Effective tax rate is expected to be 29-31% in 2016. Net charge-offs as a percent of average loans was 0.34% versus. Allowance for loan and lease losses as a percent of total loans rose 1 BP in the 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.