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$BAC, which competes with $JPM, $C & WFC, said that 2Q16 litigation expense was $270MM. As a result, YoverY expense improvement ex litigation was $600MM. Nearly every category of cost was lower YoverY, led by personnel, including the expiration of the fully amortized advisor awards and the revenue related incentive mostly in Wealth Management.
$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.
Well this is big! I don’t know if it’s someone’s monopoly or genuine excitement, but either way, $CSX is up 23% after market closed. I heard some activist investor is going to blow big money into CSX Corp. Anyone mind explaining?