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$ADI said inventory on a dollars basis fell $5MM sequentially and on a days basis grew to 138 days. The company expects both dollars and days of inventory to decrease over the next two quarters. Inventory and distribution on a dollars basis was modestly higher than 1Q16 and weeks of inventory in distribution fell to 7 weeks from 7.5 weeks in 1Q16.
$YHOO is reporting today after market close. Nobody cares about this stock.
$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.