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Jim Mitchell of Buckingham Research asks about expenses. $BAC said that from 4Q15 to 1Q16 there was a $300MM core expense decline. $100MM of this was the roll off of the amortization of the awards given to advisers around the Merrill Lynch acquisition. $200MM of this is just solid expense discipline; expenses came down in almost all categories.
$NFLX a monster move, going up. Expect making some money on Monday.
$AMD down more than 6% even after posting above consensus third quarter results.
$MCD stock rose more than 2% after it posted better than expected 3Q16 results, driven by global same-store sales growth. Meanwhile, earnings and revenue were lower than last year, hurt by refranchising efforts.
$RAI has received a $47 billion take over offer from British tobacco giant British American Tobacco! This is huge!