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$HBI's 2016 outlook at their midpoints implies 11% operating profit growth, 16% EPS growth and $800MM in cash flow from operations. Adjusting for Champion Europe, inventory dipped versus 1Q16. Inventory, excluding Champion Europe and Pacific Brands, is expected to fall through 2H of 2016. Tax rate is expected to be in high single digits for 2016.
$WBA is yet to receive US anti-trust clearance for its Rite Aid acquisition. The deadline for the deal expires on January 27.
$BMY plunge 7.2%. No credits to the non-acceleration of approval for lung cancer combination treatment.