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$COH, which provides luxury accessories and lifestyle collections, reported a decline in 1Q16 earnings due to a fall in net sales. Net income fell to $96.4MM or $0.35 per share from $119.1MM or $0.43 per share last year. Net sales declined 1% to $1.03Bil. Non-GAAP EPS fell to $0.41 from $0.53.
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.