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$CSX expects 4Q15 average headcount to be down approx. 2% on a sequential basis. This reflects about a 6% reduction from the prior year. Labor inflation is expected to be around $25MM in 4Q15, slightly below what was seen in 3Q15. In MS&O expense, $CSX expects inflation to be offset by efficiency gains and volume-related savings.
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.