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Outdoor advertising company $CBS said that 1Q16 underlying network advertising continued to accelerate from the 8% growth seen in 3Q15 and 4Q15, and was up 12% in 1Q16. Affiliate and subscription fees grew 15% driven by strong increases in retrans and reverse comp, which was up 42% for the quarter. Content licensing and distribution was $729MM.
No better outlook on $MSFT. Even if the results beat a bit, the stock may move 4 to 6% higher, but won't go above $60.