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Jefferies analyst Akshay Jagdale asks why EBIT guidance was reduced by almost 21% or $34MM for 2H16. $FLO says that for 1H16, it was off of its targets from a sales perspective mainly due to volume declines in reaction to pricing actions. But going into 2H16, $FLO has to been more promotional to drive share gains, which will impact the top line.
$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.