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$CAG 4Q15 Call -John, CFO: Corporate expenses were approx. $62MM; & adjusting for items impacting comparability, expenses were $65MM vs. $59MM in year ago quarter. Increase in expenses reflects higher incentive costs and impact of an extra week. Equity-method investment earnings were higher, due to addition of earnings from the Ardent Mills JV.
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.