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Excluding discrete items, effective income tax rate was 26.1% compared to 32.1% a year ago. Tax rate decrease was due to cash repatriation benefits and a change in geographical mix of projected earnings. YTD tax rate, excluding discrete items, was 30%. This rate is at the low end of $JOY’s full year guidance of 30-32%.
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.
$VZ down more than 2% after a disappointing third quarter. A lot of uncertainty on the Yahoo deal too.