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During 3Q16, $TTC's operating earnings as a percent of sales rose 60 BP to 13.6% vs. 3Q15. Interest expense was up slightly 1.3% and effective tax rate was 30.9% vs. 31.3% in 3Q15. The company expects full-year 2016 tax rate to be about 30.5%. Net inventories fell 6.6% to $327.1MM, while trade payables rose 1.3% to $172.2MM for the quarter.
$BABA seems to be on a roll! But increasing its yearly sales outlook from 48% to 54% seems over-expectation from the company's part, doesn't it?
$JNJ down 2% in pre-market trading. Earnings beat expectations, but sales disappointed. Johnson is cautious on its outlook. How it will perform in the future?