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$SWKS said that 3Q16 OpEx was $107.6MM comprising of R&D expense of $70.2MM and SG&A expense of $37.4MM. The company generated $274.7MM of operating income translating into a 36.5% operating margin. Cash tax rate was 12.7% for the quarter and $SWKS projects it to be lower at 14% for FY16.
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.
$VZ down more than 2% after a disappointing third quarter. A lot of uncertainty on the Yahoo deal too.