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JWN's 2Q16 SG&A expenses, as a percent of net sales, rose 212 BP to 29.8% vs. 2Q15, mainly due to a FY15 benefit of $64MM related to the sale of credit card portfolio, as well as expense deleverage from the shift in sales volume into 3Q16 related to the Anniversary Sale event. For 1H16, $JWN repurchased 1.3MM shares of its common stock for $60MM.
$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?