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$M 2Q15 Call: The GM rate was 40.9%, down 50 BP from last year. With weaker sales, took additional markdowns needed to keep inventory fresh. Therefore, GM rate was lower than expected. Margin rate was up vs. 1Q15. For spring season of 1H15 as a whole, the GM rate was down 30 BP. Inventory at 2Q15-end was up 3.8% or a 2.9% increase on a comp basis.
$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.