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David Manthey of Robert W. Baird asks whether $MSM's 36.8% guided tax rate for 4Q16 versus 38.2% in 3Q16 and YTD was because of the DC purchase. Rustom Jilla said that is actually because the company's 4Q typically benefits from the release of various state tax reserves and that is just due to the timing of the statute of limitations.
$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.