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$NP said that at the end of 1Q16, debt was $239MM and debt-to-EBITDA ratio was around 1.5 with over $100MM of borrowing capacity available on existing credit facilities. The company's effective tax rate was 33% vs. 37% reported in 1Q15. The lower rate is largely due to differences in timing of R&D credits recognized all at once in 4Q15.
$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.