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During 1Q16, $SYY posted an increase in sales of 0.9% to $12.6Bil compared to the same quarter last year mainly attributable to acquisitions in last year, which increased sales by 0.4% & impact of FX rates decreased sales by 2%. Gross profit rose 2.3% to $2.2Bil in the quarter compared to last year & gross margin increased 23BP to 17.81%.
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.