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$CAG 4Q15 Call -John, CFO: Commercial foods net sales were approx. $1.2Bil, or up 7% vs. 4Q14 and operating profit was $154MM or 3% vs. 4Q14; this operating profit increase reflects benefits from higher net sales, partially offset by lower gross margins at Lam Weston due to higher manufacturing & distribution costs related to West Coast port issue.
$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.