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$CXW announced a restructuring of its corporate operations and implementation of a cost reduction plan. $CXW expects that 50 to 55 full time positions will be eliminated as a result of the restructuring, or about 12% of corporate workforce at its headquarters. $CXW expects to report a charge in 3Q16 of about $4MM associated with restructuring.
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.