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$TSN's YTD operating cash flow was $1.9Bil and the company spent $515MM on CapEx. This outpaced the company's depreciation by $55MM as it continues to invest in projects with a focus on delivering high ROIC. $TSN's effective tax rate for the quarter was 31.8% & 33.9% on an adjusted basis. Including cash of $197MM, net debt was $6Bil for 12 months.
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.