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$SIG said affiliates of Leonard Green & Partners will invest $625MM in form of convertible preferred shares. $SIG will expand BoD from 10 to 11 and appoint Jonathan Sokoloff to its Board upon closing, which is expected to occur in 3Q17. $SIG is increasing Board authorized share repurchase program by $625MM, bringing total to $1.1Bil.
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.