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Oliver Chen of Cowen & Co. asks about the status of inventory. $FOSL said the trends were fairly stable throughout the channel for 2Q16. So sell-in pretty much was consistent with sell-through. Inventories in the channel seem pretty healthy for the company right now.
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.