$M's cost of sales rate as a percent to net sales for 2015 rose to 60.9% from 60.0% in 2014. This rise was primarily due to higher markdowns resulting from the need to clear inventory based on the weaker sales trend as well as the continued growth of the omnichannel businesses and the resulting impact of free shipping.
IPG said its partner R/GA, an international advertising agency, posted major wins with Siemens and Mercedes-Benz. Another partner Huge, a digital agency, is working with major clients including Google and HBO.
$CFG reported that it spent $17MM in 3Q16 for its TOP III expense initiatives program related to severance and consultants. Salaries and employee benefits expense was down $11MM compared to 2Q16. Headcount was down by 200 year-over-year, driven by TOP
(Tapping Our Potential) efficiency initiatives.
In 4Q16, $GE
expects industrial cash flow from operating activities (CFOA) to be more than
$9Bil. The company expects to receive a $4Bil dividend from GE Capital. For
2016, $GE expects free cash flow plus dispositions to be more than $32Bil above
In the short to medium term, $STI said it does not believe its regulatory costs in general would abate. In the current environment, regulatory and compliance cost is expected to be generally stable or go up over time.
For 2017, $SLB expects solid growth year-over-year in the Middle East and Russia on a full-year basis. The company also sees an uptick in investment and activity in Latin America and in Europe/Africa. The only place where the company does not see any signs of recovery at this stage is in Asia.