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JP Morgan analyst Matthew Boss questions $KORS whether FY16 EBIT margins decline to low 20s is a trough. CFO Joseph Parsons says that EBIT margins were lower than the 23-24% range established earlier. The company says that SG&A will start to level out in FY17, and $KORS would have been in that range if it had not reduced the wholesale inventories.
$YHOO is reporting today after market close. Nobody cares about this stock.
$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.