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For 3Q17, $SMTC expects non-GAAP OpEx to decline slightly versus 2Q17 and GAAP OpEx to decline about 41% due to the impact of the $26MM gain from Snowbush divestiture. Net inventory is expected to rise slightly from 2Q17 levels on absolute dollar. $SMTC expects GAAP tax rate to be about 20% for 3Q17 and in the 24-26% range for FY17.
$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.