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Power and energy company $D reported a lower 1Q16 profit and maintained its 2016 earnings guidance. The company reported earnings of $524MM, or $0.88 per share, compared with earnings of $536MM, or $0.91 per share a year ago. Operating earnings were $572MM, or $0.96 per share, compared to $584MM, or $0.99 per share a year ago.
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.