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$SLG reported a drop in 3Q16 earnings due to lower gain on sale of real estate as well as lower equity in net gain on sale of interest in unconsolidated JV/real estate. Net income fell to $34.25MM or $0.34 per share from $163.66MM or $1.64 per share last year. Total revenue dropped to $416.68MM from $432.07MM.
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.