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$XL 2Q15 Q&A: Pan from Morgan Stanley asked about expense ratio, how much that is the accounting adjustments impacted overall for XL. Pete replied there is about $15MM adjustment in amortization expense that hits the commission & brokerage line for the quarter. I’d expect that to decline slowly over time until it expires in quarter five or six.
$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.