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In 1Q16, $GD had $439MM net cash provided by operating activities. After Capex of $65MM, the company had $374MM of free cash flow from operations. Operating earnings were up 2.5% over 1Q15 on the strength of a 40BP improvement in margins. Sequentially, revenue was down 1.1% but operating earnings were up $17MM on a 30BP improvement in margin.
$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.
Well this is big! I don’t know if it’s someone’s monopoly or genuine excitement, but either way, $CSX is up 23% after market closed. I heard some activist investor is going to blow big money into CSX Corp. Anyone mind explaining?