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$EOG recognized an income tax benefit of $239MM during 1Q16 vs. $67MM in 1Q15, mainly due to an increase in pretax loss. The net effective tax rate was 34% vs. 28% for 1Q15. The higher effective tax rate is primarily due to smaller 2016 losses in Canada and China, which have not been tax effected due to valuation allowances.
$JNJ down 2% in pre-market trading. Earnings beat expectations, but sales disappointed. Johnson is cautious on its outlook. How it will perform in the future?
$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.