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Deutsche Bank analyst Sherri Scribner questions $WDC on what the impact of Yen will be going forward on hedges. CEO Stephen Milligan says that the impact of Yen is a total of $51MM in unrealized gains. These would be spread out over the next few quarters. The company would have had a benefit of $26MM in 1Q17 and $17MM in 2Q17.
$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.