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In 1Q16, $SPTN's operating cash flow was $8.6MM vs. $48.9MM in 1Q15. The decrease was mainly due to changes in working capital surrounding the timing of vendor income tax payments and inventory requirements for new business. The company repurchased approx. 696,000 shares of common stock for a total of $9MM and total long-term debt was $486.5MM.
$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.