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$STZ 1Q16 Call – David, CFO: Consolidated SG&A for the quarter increased $18MM. Beer SG&A was up $16MM primarily due to higher marketing expense. Due to factors just mentioned, consolidated operating income increased $50MM and consolidated operating margin improved 130 bps. Beers operating margin increased 170 bps.
$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?