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$MO said it is implementing productivity initiative, which will cut spending on certain SG&A infrastructure and enact leaner organizational structure. The initiative is likely to deliver about $300MM in annualized productivity savings by end of 2017. $MO sees pre-tax restructuring charges of about $140MM, which is likely to be recorded in 1Q16.
$PYPL jumps 6% in after hours on strong results. I am bullish on this stock.
$TSCO stock remained active in the after hours trading and rose more than 2% after the retailer posted better than expected 1Q17 results.
Instagram has reached 700 million monthly active users. Looks like it will hit 1 billion soon. That would make it $FB’s fourth billion-user platform.