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$FDX currently expects the aggregate integration program expense over the 4 years to be in the range of $700-800MM. The timing and amount of these integration-related estimates are subject to change, as the company implements and adjusts its plans as necessary. In FY18, TNT Express will be accretive, excluding integration and restructuring costs.
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.