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Telephonics Corp., $GFF's wholly owned subsidiary, said that it has increased its equity interest in its JV, Mahindra Telephonics Integrated Systems, from 26% to 49%. Telephonics is the first US defense and aerospace contractor to receive approval from Indian Foreign Investment Promotion Board to increase its stake in an Indian defense co. to 49%.
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.