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$MACK said it reduced 22% of its headcount while eliminating more than $200MM in expected costs over the next 2 years. The company also said its CEO Robert Mulroy resigned, effective immediately. The BoD appointed Chairman Gary Crocker as interim CEO. $MACK had reported a 2Q16 loss of $50.8MM, hurt by higher R&D costs and interest expenses.
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.