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$EAT expects depreciation expense to grow $3-5MM in FY17. CapEx is expected to be $110-120MM. G&A expense is expected to be $16-18MM higher on a dollar basis. Company expects effective income tax rate to be 29-31%, free cash flow to be $230-240MM, and diluted shares outstanding to be 50-53MM in FY17.
$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.