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$KORS said that it completed the acquisition of Michael Kors (HK) Limited, the exclusive company licensee in China, on May 31, 2016, for $500MM in cash. The deal is expected to be neutral to GAAP EPS and to add to non-GAAP EPS, excluding acquisition costs. The acquisition is expected to add to EPS in FY18 and thereafter.
$PYPL jumps 6% in after hours on strong results. I am bullish on this stock.
$TSCO stock remained active in the after hours trading and rose more than 2% after the retailer posted better than expected 1Q17 results.
Instagram has reached 700 million monthly active users. Looks like it will hit 1 billion soon. That would make it $FB’s fourth billion-user platform.