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$L ended 2Q16 with parent company cash and investments of $4.9Bil and debt of $1.8Bil. During 2Q16, $L received $74MM in dividends from its subsidiaries, $61MM from CNA and $13MM from Boardwalk. $L repurchased 1.9MM shares from April 1 through the end of July spending $76MM.
$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.