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$AVGO said that completion of integration activities & its focus on ROI will allow it to drive R&D expenses to 16% of net revenue within the next few quarters. $AVGO sees potential opportunities to drive SG&A expenses below 4% of net revenue. For 2H16, the company expects to see good revenue growth, which will help drive operating margins to 40%.
$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.