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Greg Peters of Raymond James asks about competitive positioning. $WLTW said it sees some challenges in the Talent and Rewards business. The company expects to see a pickup in the market and also a slightly improved pipeline for 2H16. In the investment side, $WLTW sees some softness in consulting.
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.