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$CA 1Q16 Call: We ended Q1 with approx. 1.4Bil in net cash during and we repurchased 50MM shares and paid $110MM in dividends. We have 735MM remaining in our original 1Bil share repurchase program. Subsequent to Q1 we drew down $400MM from our $1Bil revolver in conjunction with the close of our acquisition of Rally.
$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.