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In 2Q16, $HSY repurchased $117MM of common shares. The company also repurchased $32MM of common shares to replace shares issued in connection with the exercise of stock options. Cash on hand at the end of 2Q16 was $250MM. For 2016, $HSY expects Capex to be $265-275MM.
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.