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Simeon Gutman of Morgan Stanley asks about food deflation. $COST said it believes the food deflation could last for another 5-6 months. In items such as meat, every month, the company sees around 10% drop in price per pound and a 3-5% increase in labor productivity per pound and less efficiency. This hits profitability.
$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?