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$CNC said that its debt on June 30 was $4.5Bil, including $185MM of borrowings on revolver. The company's debt-to-capital ratio, excluding non-recourse mortgage note, was 44.4% vs. 44.3% in 1Q16. $CNC's medical claim liability was $4Bil at June 30, representing 43 days in claims payable. Cash flow from operations was $420MM for the quarter.
$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.