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$AME's 4Q15 selling expenses were down, roughly in line with sales percentage-wise. G&A expenses were 1.2% of sales in the quarter, unchanged vs. 4Q14. Other expense was up approx. $6.3MM due to an insurance gain in 4Q14. The effective tax rate for the quarter was 26% vs. 27.1% in 4Q14, hurt by ongoing international tax planning initiatives.
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.