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Peoria, Illinois-based $CAT cut its 2016 outlook, citing lower demand for its equipment in sectors like construction, oil and gas, mining and rail. The company now expects earnings of $3.00 per share, down from its prior outlook of $3.50 per share. Sales and revenues are expected to be in a range of $40 to $42Bil with a midpoint of $41Bil.
$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.