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Foreign currency negatively impacted $VFC's international revenue growth by 14% in both the third quarter and first nine months of 2015 compared with the 2014 periods. For 3Q15, revenue in Europe declined 11% with Asia Pacific declining 5%. International revenue represented 38% of the total revenue in 3Q15 compared to 41% in 3Q14.
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.