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$ADBE, which competes with $MSFT & $AAPL, said that its 1Q16 effective tax rate was 13% on GAAP basis & 21% on a non-GAAP basis. The GAAP rate was lower than targeted mainly due to the retroactive reinstatement of the 2015 R&D tax credit. In 1Q16, $ADBE repurchased approx. 1.5MM shares for $133MM, with $1.48Bil remaining under the ASR program.
$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?