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$V's marketing expenses fell by 5% YoverY to $194MM in 1Q16 due to lower levels of advertising & promotional campaigns. On the contrary, Network & Processing expenses rose by 12% mainly due to fees associated with the processing of Russian domestic transactions that were transitioned to the Russian National Payment Card system in 3Q15.
$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.