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$MS said that it has launched a company-wide initiative called Project Streamline designed to identify and implement significant infrastructure expense reductions by 2017-end. $MS has set a new expense ratio target of 74% in 2017, which translates into $1Bil in expense reductions over the next two years, assuming flat revenues for 2016 and 2017.
$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?