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$CASY said its effective tax rate in 1Q17 was down 350 BPs from a year ago to 33.5%. This was mainly due to the adoption of a new accounting standard related to the tax treatment of share-based compensation. The impact of this was about $3MM benefit to income tax expense. The company now expects its effective tax rate to be 34.5-35.5% for FY17.
I haven’t seen a drop in banks like this in a long time. Looks like $WFC is still facing pressures from its sales practices scandal..!!
Helping President-elect's America first focus, $WMT set to create 10,000 retail jobs in the US in 2017.
Looks like Trump has his eyes on the $MON and Bayer merger next. He had a meeting with the CEOs and apparently got job promises from them.