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$MCK 1Q16 Call: Total adjusted operating expenses of $1.8Bil were down 5% for 1Q16 on a reported basis and up 1% on a constant currency basis. Adjusted other income was $13MM. Interest expense of $89MM, decreased 7% on a reported basis. Adjusted tax rate was 31.1% and for FY16, we continue to expect adjusted tax rate of 31.5%.
Visa ($V) set to release it earning after market close today. With new CEO resigning so close to the earnings, should we expect to see any surprises? Visa has been making strong moves with Visa Europe acquisition, partnership with PayPal and a 15% increase if quarterly dividends.
Kimberly Clark Corp ($KMB) has been in decline for most of the year, the stock has also not been getting any analyst love. Will today’s earnings break the trend? Revenue has been up and down in the last four quarters, let us see what this quarter brings.
$KMB down close to 4% after it misses on earnings and revenue. Forecasts are lower for the year.