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Deutsche Bank's Karl Keirstead questioned on the gross margin percentage decline for FY17. $MSFT CFO Amy Hood said there was about 200 BP change in gross margin in 3Q16, entirely due to the shift to the cloud in both Productivity & Business Processes and Intelligent Cloud segments. This transition will be the main driver for gross margin decline.
$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.