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$VAR ended 3Q16 with cash and cash equivalents of $836MM, debt of $701MM and stockholdersâ equity of $1.7Bil. Cash flow from operations in 3Q16 was $95MM. $VAR spent $126MM to repurchase 1.5MM shares and $95MM to reduce debt. Capex was $15MM in 3Q16.
$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.