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$FOR said it has taken actions to eliminate over $30MM in SG&A cost in 2016 as compared to 2015 actual spending. With the exit of the non-core assets scheduled for this year, the company estimates full-year 2016 SG&A to be approx. $56MM. In 1Q16, $FOR reduced SG&A by 24% compared with 1Q15.
What will be an ideal EPS range for $PZZA in its earnings today?
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.