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Petroleum products distributor $TSO reported 4Q15 net earnings of $54MM or $0.45 per diluted share, down 62.8% versus $145MM or $1.13 per diluted share YoverY, hurt by lower revenues. 4Q15 earnings included a pre-tax charge of $276MM related to an adjustment due to decline in crude oil prices. Revenues fell 21.7% to $6.3Bil versus $8.5Bil.
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.