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$MO's BoD authorized expansion of current $1Bil share repurchase program to $3Bil, expected to close by end of 2Q18. $MO expects to record total estimated pre-tax gain in reported earnings of about $13.7Bil, or $4.55 per share, substantially all will be recorded in 4Q16 as gain. $MO will use equity method of accounting for investment in $BUD.
$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?