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Top breakfast cereal maker $GIS said that its cost-saving initiatives, which include projects Century, Catalyst, and Compass, as well as administrative cost savings from zero-based budgeting, generated $350MM in total annual savings in FY16, ahead of original target. The company is increasing its total annual savings target to $600MM by FY18.
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.