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$TAP's total debt at the end of 2Q16 was $3.03Bil, and cash and cash equivalents totaled $2.99Bil, resulting in net debt of $37MM. The net debt is significantly lower than the prior year mainly due to the proceeds received from the company's Feb. 2016 equity offering.
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.