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$STT, holding company for State Street Bank, reported a jump in 2Q16 earnings driven by lower expenses despite a 1.3% decline in revenue. Net income rose to $585MM or $1.47 per share from $389MM or $0.93 per share last year. Revenue slid to $2.57Bil from $2.61Bil. Adjusted EPS increased to $1.46 from $1.36.
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.