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For 2Q16, $TSCO's SG&A, including D&A as a percentage of sales, delevered by 15 BPs to 21.6% of sales versus 21.4% of sales in 2Q15. The deleverage was due to the lower comp sales, as SG&A expense grew 5.2% versus prior year. Effective income tax fell to 36.8% in 2Q16, due to additional federal and state tax credits.
$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?