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$DCI said it expects the full year effective tax rate to be between 25-26%. The company also said it raised its estimates of free cash flow & cash conversion, primarily due to its efforts to reduce working capital. Including FY16 CapEx of approx. $80MM, $DCI expects free cash flow of $200-230MM, translating to a cash conversion of between 100-115%.
$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.