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$COH 4Q15 Call: CapEx was $75MM vs. $62MM in 4Q14. FY16 outlook COH brand standalone: Sales of low single digit increase in constant currency; GM 70% on a constant currency basis; SG&A expenses net of savings mid single digit rate in constant currency; operating margin in the mid to high teens; interest expense $30-35MM; tax rate 28%.
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.