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Oil and gas exploration and production company $CXO reported a 1Q16 loss, as revenue fell due to oil weakness. Net loss for the quarter was $1.0Bil, or $7.95 per diluted share, compared to net income of $7.5MM, or $0.06 per diluted share a year ago. Revenue fell to $283.6MM.
$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.