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$APD, which competes with $ARG and $PX, said that 1Q16 sales of $2.4Bil fell 8% vs. 1Q15 on unfavorable currency and lower energy pass-through impacts of 5% each. Volumes rose 1% as Gases Asia growth continued, while Materials Technologies and Gases Americas and Gases Europe volumes were lower.
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.