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$PDCO 1Q16 Call: Operating cash flow from continuing operations generated $8MM of cash vs. $68MM in the prior period. We expect to convert a 100% of net income into free cash flow for the year. CapEx totaled $17.1MM and included investments for normal replacements as well as our corporate-wide IT initiatives.
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.