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$ABBV adjusted R&D was 15.5% of sales, reflecting funding action supporting the pipeline and the impact of both Stemcentrx transaction and the Boehringer Ingelheim collaboration. Adjusted SG&A was 22.2% of the sales in 2Q16, down 290 BPs from the prior year. Adjusted operating margin was 43.9% of sales, down 30 BPs relative to 2Q15.
$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!
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.