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In 4Q15, $IFF established a series of initiatives to improve profit. A pre-tax charge of about $8MM was recorded to cover severance and related costs associated with expected terminations. $IFF expects to realize pre-tax savings of $7-9MM once the initiatives are fully implemented in 2H17, half of which is expected to be realized in 2016.
$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?