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For 2016, $MMM expects foreign currency translation to remain a headwind thereby reducing sales in US dollars by 1-3%. Acquisitions, net of divestitures will add 1% to sales growth in this period. The company expects 2016 tax rate to be 29.5-30.5% and free cash flow conversion rate to be 95-105%.
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.