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Automotive replacement parts distributor $GPC reported a decline in 1Q16 earnings due to lower sales. Net income slid to $158.03MM from $161.01MM last year, while EPS remained flat at $1.05. Net sales fell to $3.72Bil from $3.74Bil. Currency negatively impacted revenue growth by about 1.5% and EPS by about $0.01 in 1Q16.
$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.