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Cookware and home furnishings seller $WSM reported a decline in 1Q16 earnings due to supply chain and inventory initiatives, and lower franchise and wholesale margins. Net income slid to $39.6MM or $0.44 per share from $44.79MM or $0.48 per share last year. Net revenues grew to $1.1Bil from $1.03Bil. Non-GAAP EPS was $0.53 for 1Q16.
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.
$VZ down more than 2% after a disappointing third quarter. A lot of uncertainty on the Yahoo deal too.