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$TIF said its SG&A expenses rose 3% in 1Q16, largely reflecting increased store occupancy and depreciation expenses of $5.6MM and increased labor costs of $3.6MM. SG&A expenses as a percentage of net sales rose 4.7 percentage points due to the lack of sales leverage on OpEx. There was no translation effect on SG&A growth from changes in FX.
$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?