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During 2Q16, $JOY's decremental margin on the YoverY sales decline was 34%, bringing the YTD decremental margin to 38%. With the company having its targeted cost reduction in the back half of the year, $JOY is on track to meet or be the targeted 34% decremental margin for the year. Income tax rate, excluding call-outs & discrete benefits was 51%.
$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?