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$BAX issued and redeemed commercial paper during the first nine months of 2015, of which $425MM was outstanding as of 3Q15-end with a weighted-avg. interest rate of 0.46%. There was a balance of $875MM outstanding at Dec. 31 last year with a weighted-avg. interest rate of 0.46%. This commercial paper is classified as short-term debt.
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.