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Expenses decreased 11% versus the prior year, driven mainly by a $145MM favorable impact from lower fuel prices. $CSX's ongoing focus on efficiency drove $42MM in productivity gains in 3Q15, while lower volume resulted in over $70MM of cost reduction versus last year. Interest expense was similar to last year and income taxes were $292MM in 3Q15.
$MCD stock rose more than 2% after it posted better than expected 3Q16 results, driven by global same-store sales growth. Meanwhile, earnings and revenue were lower than last year, hurt by refranchising efforts.
$RAI has received a $47 billion take over offer from British tobacco giant British American Tobacco! This is huge!
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.