MORNING CALL 11/10

Barchart Morning Call

Barchart.com - Fri Nov 10, 6:38AM CST

OVERNIGHT MARKETS AND NEWS

Dec E-mini S&Ps (ESZ17 -0.38%) this morning are down -0.38% on pessimism U.S. legislators will be able to pass tax reform legislation after the Senate revealed Thursday that its tax plan would delay corporate tax cuts until 2019. The U.S. stock market has rallied sharply this year on expectations meaningful tax cuts would be implemented this year. European stocks are down -0.22% at a 2-week low as they followed U.S. stock indexes lower. Asian stocks settled mostly lower: Japan -0.82%, Hong Kong -0.05%, China +0.14%, Taiwan 0.10%, Australia -0.33%, Singapore -0.11%, South Korea -0.35%, India +0.19%. China's Shanghai Composite bucked the negative trend and rallied to a 1-3/4 year high, led by strength in financial stocks, after the government eased foreign ownership caps on banks and other financial companies.

The dollar index (DXY00 +0.05%) is up +0.09%. EUR/USD (^EURUSD) is up +0.03%. USD/JPY (^USDJPY) is down -0.01%.

Dec 10-year T-note prices (ZNZ17 -0.24%) are down -8.5 ticks at a 1-week low on hawkish comments from San Francisco Fed President Williams who expects a Fed rate hike next month and three more rate hikes next year.

San Francisco Fed President Williams said he expects a Fed rate hike at the Dec FOMC meeting and three more rate hikes in 2018 to return the fed funds rate to "a normal level" of about 2.5%.

UK Sep industrial production rose +0.7% m/m, stronger than expectations of +0.3% m/m and the largest increase in 7 months.

UK Sep manufacturing production rose +0.7% m/m, stronger than expectations of +0.3% m/m and the largest increase in 9 months.

UK Sep construction output fell -1.6% m/m, weaker than expectations of -0.9% m/m and the biggest decline in 1-1/2 years.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) U.S. Nov University of Michigan consumer sentiment expected +0.2 to 100.9, Oct +5.6 to 100.7.

Notable Russell 2000 earnings reports today include: none.

U.S. IPO's scheduled to price today: none.

Equity conferences during the remainder of this week: none.

OVERNIGHT U.S. STOCK MOVERS

Macy's (M +10.98%) was downgraded to 'Short' from no position at Evercore ISI.

Walt Disney (DIS +1.48%) gained over 1% in after-hours trading after it said in a conference call that it is making another trilogy of 'Star Wars' movies to be released after 2020.

Trade Desk (TTD -3.84%) tumbled 11% in after-hours trading after it said it sees Q4 revenue of $101.0 million, below consensus of $101.8 million.

Nvidia (NVDA -1.84%) gained almost 2% in after-hours trading after it reported Q3 revenue of $2.64 billion, higher than consensus of $2.36 billion, and then said it sees Q4 revenue of $2.65 billion plus or minus 2%, better than consensus of $2.44 billion.

Redfin (RDFN +6.91%) fell nearly 7% in after-hours trading after it reported Q3 revenue of $109.5 million, below consensus of $110.7 million.

Nordstrom (JWN +4.52%) lost nearly 1% in after-hours trading after it reported Q3 gross margin of 34.7%, below consensus of 35.1%.

Ichor Holdings Ltd (ICHR -2.07%) dropped over 4% in after-hours trading after it announced that it acquired Talon Innovations in a stock purchase agreement for $130 million.

Hertz Global Holdings (HTZ -4.67%) climbed 7% in after-hours trading after it reported Q3 adjusted EPS of $1.42, better than consensus of $1.33.

Intrexon (XON +0.51%) fell 3% in after-hours trading after it reported Q3 revenue of $46 million, weaker than consensus of $55.1 million.

Dynavax Technologies (DVAX -3.84%) rallied 14% in after-hours trading after the FDA approved its Heplisav-B vaccine for prevention of infection caused by hepatitis B in adults.

Airgain (AIR -0.62%) dropped 6% in after-hours trading after it reported Q3 adjusted EPS of 5 cents, below consensus of 7 cents.

Immunomedics (IMMU +3.06%) jumped over 8% in after-hours trading after the company appointed former president of hematology and oncology at Celgene, Michael Pehl, as CEO.

Lightpath Technologies (LPTH +0.81%) tumbled 14% in after-hours trading after it reported Q1 revenue of $7.6 million, below consensus of $8.4 million.

MARKET COMMENTS

Dec S&P 500 E-mini stock futures (ESZ17 -0.38%) this morning are down -9.75 points (-0.38%). Thursday's closes: S&P 500 -0.38%, Dow Jones -0.43%, Nasdaq -0.53%. The S&P 500 on Thursday closed lower on negative carry-over from a decline foreign equity markets after the Nikkei Stock Index retreated from a 25-3/4 year high and closed lower and after Euro Stoxx 50 fell to a 2-week low. There was also disappointment in the stock market after the Senate revealed that its tax plan would delay cutting corporate taxes until 2019.

Dec 10-year T-note prices (ZNZ17 -0.24%) this morning are down -8.5 ticks at a 1-week low. Thursday's closes: TYZ7 -2.00, FVZ7 +0.50. Dec 10-year T-notes on Thursday closed lower on negative carry-over from a slide in 10-year German bunds to a 1-week low after the European Commission raised its Eurozone 2017 and 2018 GDP estimates, which was hawkish for ECB monetary policy. T-note prices were also undercut by increased inflation expectations after the 10-year T-note breakeven inflation rate rose to a 1-1/2 week high. Losses were limited as the slide in stocks boosted the safe-haven demand for T-notes.

The dollar index (DXY00 +0.05%) this morning is up +0.081 (+0.09%). EUR/USD (^EURUSD) is up +0.0003 (+0.03%) and USD/JPY (^USDJPY) is down -0.01 (-0.01%). Thursday's closes: Dollar Index -0.422 (-0.44%), EUR/USD +0.0047 (+0.41%), USD/JPY -0.40 (-0.35%). The dollar index on Thursday closed lower on the slide in USD/JPY to a 1-week low as the decline in global stocks boosted the safe-haven demand for the yen. The dollar was also undercut by strength in EUR/USD after the European Commission raised its Eurozone GDP forecast. The dollar was also hurt by disappointment in the Senate's tax plan, which delays a corporate tax cut until 2019.

Dec crude oil (CLZ17 -0.10%) this morning is down -3 cents (-0.05%) and Dec gasoline (RBZ17 -0.04%) is +0.0003 (+0.02%). Thursday's closes: Dec WTI crude +0.36 (+0.63%), Dec gasoline -0.0016 (-0.09%). Dec crude oil and gasoline on Thursday settled mixed. Crude oil prices were boosted by a weaker dollar and the European Commission's hike in its Eurozone 2017 GDP estimate, which is positive for energy demand. Gasoline closed lower after the crack spread moved lower, which may curb refinery demand for crude oil to refine into gasoline.

Metals prices this morning are mixed with Dec gold (GCZ17 -0.19%) -3.3 (-0.26%), Dec silver (SIZ17 +0.32%) +0.020 (+0.12%) and Dec copper (HGZ17 +0.21%) +0.002 (+0.05%). Thursday's closes: Dec gold +7.9 (+0.62%), Dec silver -0.163(-0.95%), Dec copper -0.0135 (-0.44%). Metals on Thursday settled mixed with Dec copper at a 4-week low. Metals prices were supported by a weaker dollar and by the selloff in global stocks that boosted safe-haven demand for precious metals. Copper closed lower on Chinese demand concerns after Chinese customs data on Tuesday showed China Oct copper imports fell -23% m/m to 330,000 MT.

GLOBAL EVENT CALENDAR11/10/2017

		Friday, Nov 10
US	1000 ET	U.S. Nov University of Michigan consumer sentiment expected +0.2 to 100.9, Oct +5.6 to 100.7.
		Monday, Nov 13
US	1100 ET	USDA weekly grain export inspections.
	1400 ET	Oct monthly budget statement expected -$50.0 billion, Sep +$8.0 billion.
	1600 ET	USDA crop conditions and progress report.

U.S. STOCK CALENDAR11/10/2017

Name	Ticker	Time	Description	Period	Estimate
Equifax Inc	EFX US	08:30	Q3 2017 Earnings Call	Q3 17
WW Grainger Inc	GWW US	10:00	Annual General Meeting
WW Grainger Inc	GWW US	10:00	Analyst Meeting
Rayonier Inc	RYN US	10:30	Investor Day
Humana Inc	HUM US		Investor Meeting
Maxim Integrated Products Inc	MXIM US	13:00	Annual General Meeting

Dynavax Technologies - Chart of the Day

Dynavax Technologies (DVAX) is the Barchart Chart of the Day.  The biomedical company has a Trend Spotter buy signal, a Weighted Alpha of 179.52+ and gained 115.34% in the last year.

The Chart of the Day belongs to Dynavax Technologies (DVAX).  I found the biomedical stock by using Barchart to sort the 52 Week High list first for the highest Weighted Alpha, then again for technical buy signals of 80% or more.  I always use the Flipchart feature to review the charts for consistent price appreciation.  Since the Trend Spotter signaled a buy on 7/31 the stock gained 51.89%.

Dynavax Technologies discovers, develops, and intends to commercialize innovative products to treat and prevent allergies, infectious diseases, and chronic inflammatory diseases using versatile, proprietary approaches that alter immune system responses in highly specific ways. Dynavax's clinical development programs are based on immunostimulatory sequences which are short DNA sequences that enhance the ability of the immune system to fight disease and control chronic inflammation.

The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

Barchart technical indicators:

• 179.52+ Weighted Alpha
• 100% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 7 new highs and up 30.49% in the last month
• Relative Strength Index 71.27%
• Technical support level at 23.58
• Recently traded at 24.07 with a 50 day moving average of 18.43

Fundamental factors:

• Market Cap $1.43 billion
• Revenue expected to grow 45.80% this year and another 82.60% next year
• Earnings estimated to increase 44.20% this year and an additional 5.50% next year
• Wall Street analysts issued 4 strong buy and 1 buy recommendation on the stock

#DVAX

MORNING CALL 3/1

Barchart Morning Call

Barchart.com - 1 hour ago

OVERNIGHT MARKETS AND NEWS

Mar E-mini S&Ps (ESH17 +0.51%) this morning are up +0.44% at a new all-time nearest-futures high and European stocks are up +1.57% at a 14-1/2 month high on signs of global economic strength. President Trump's address to Congress last night turned out to be a non-event as it lacked specifics on his tax cut plans or details on infrastructure spending. Global stocks rallied after Chinese manufacturing activity unexpectedly expanded last month and Eurozone manufacturing activity remained at a 3-year high. Mining stocks and raw-material producers also moved higher as May copper (HGK17 +1.11%) climbed +1.34% to a 1-week high on expectations of stronger global demand for commodities. Asian stocks settled mostly higher: Japan +1.44%, Hong Kong +0.15%, China +0.16%, Taiwan -0.78%, Australia -0.13%, Singapore +0.84%, South Korea closed for holiday, India +0.84%. Asian stocks found support on signs of strength in Chinese manufacturing activity, while Japanese exporter stocks also garnered support from a slide in the yen as USD/JPY rose +0.88% to a 1-1/2 week high, which boosts the earnings prospects of exporters.

The dollar index (DXY00 +0.74%) is up +0.66% at a 1-1/2 month high as hawkish Fed commentary late yesterday boosted the odds of a Mar Fed rate hike. EUR/USD (^EURUSD) is down -0.41%. USD/JPY (^USDJPY) is up +0.88% at a 1-1/2 week high.

Jun 10-year T-note prices (ZNM17 -0.61%) are down -21.5 ticks.

St. Louis Fed President Bullard (non-voter) said he's "agnostic" about when to raise the fed funds rate and that being pre-emptive "would be overkill" as he "doesn't think the fiscal uncertainty will be resolved before summer."

The China Feb manufacturing PMI unexpectedly rose +0.3 to 51.6, stronger than expectations of -0.1 to 51.2.

The Eurozone Feb Markit manufacturing PMI was revised downward to 55.4 from the originally reported 55.5, still the fastest pace of expansion since the data series began in 2014.

Japan Q4 capital spending rose +3.8% y/y, stronger than expectations of +0.8% y/y. Q4 capital spending ex-software rose 3.3% y/y, stronger than expectations of +1.1% y/y.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) weekly MBA mortgage applications (previous -2.0% with purchase sub-index -2.8% and refi sub-index -1.0%), (2) Jan personal spending (expected +0.3%, Dec +0.5%) and Jan personal income (expected +0.3%, Dec +0.3%), (3) Jan PCE deflator (expected +0.5% m/m and +2.0% y/y, Dec +0.2% m/m and +1.6% y/y) and Jan core PCE deflator (expected +0.3% m/m and +1.7% y/y, Dec +0.1% m/m and +1.7% y/y), (4) revised Feb Markit manufacturing PMI (expected +0.2 to 54.5, prelim-Feb -0.7 to 54.3), (5) Feb ISM manufacturing index (expected +0.2 to 56.2, Jan +1.5 to 56.0), (6) Jan construction spending (expected +0.6% m/m, Dec -0.2% m/m), (7) Dallas Fed President Robert Kaplan (voter) speaks at Paul Quinn College in Dallas, TX, (8) Fed Beige Book, (9) Fed Governor Lael Brainard speaks on the economic outlook and monetary policy at Harvard University’s John F. Kennedy School of Government, (10), Feb total vehicle sales (expected 17.70 million, Jan 17.48 million), (11) EIA Weekly Petroleum Status Report.

Notable S&P 500 earnings reports today include: Best Buy (consensus $1.67), Lowe's (0.79), Dollar Tree (1.32), Monster Beverage (0.30), Broadcom (3.48), Mylan (1.42).

U.S. IPO's scheduled to price today: Snap (SNAP).

Equity conferences: CITI Asset Management, Broker Dealer & Market Structure Conference on Wed, Gabelli & Company Pump, Valve & Water Systems Symposium on Wed, Wells Fargo Real Estate Securities Conference on Wed, ABA National Conference on Wed, EnerCom The Oil & Gas Conference on Wed, J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum on Thu, Bank of America Merrill Lynch Global Agriculture and Chemicals Conference on Wed-Thu, BTIG Healthcare Conference on Thu, Capital Link Master Limited Partnership Investing Forum on Thu, Simmons Energy Conference on Thu-Fri.

OVERNIGHT U.S. STOCK MOVERS

Micron (MU -1.35%) was upgraded to 'Buy' from 'Neutral' at Goldman Sachs with a price target of $29.

Allstate (ALL +1.01%) was downgraded to 'Market Perform' from 'Outperform' at Keefe, Bruyette & Woods with a 12-month target price of $81.

William Lyon Homes (WLH -2.28%) rose 3% in after-hours trading after it was announced that it will replace Arctic Cat in the S&P SmallCap 600 at the opening of trade on Monday, March 6.

Intel (INTC -0.85%) was downgraded to 'Underperform' from 'Market Perform' at Bernstein with a 12-month target price of $30

salesforce.com (CRM -0.23%) slid over 1% in after-hours trading after it said it sees full-year revenue of $10.15 billion-$10.20 billion, below consensus of $10.20 billion.

Tesaro (TSRO +0.51%) lost 1% in after-hours trading after it reported a Q4 loss of -$2.60 a share, wider than consensus of -$1.95.

Palo Alto Networks (PANW -1.33%) slumped nearly 20% in after-hours trading after it said it sees Q3 revenue of $406 million-$416 million, below consensus of $454.6 million.

Weight Watchers International (WTW +9.93%) jumped over 8% in after-hours trading after it reported Q4 EPS of 20 cents, better than consensus of 19 cents, and said it sees full-year EPS of $1.30-$1.40, above consensus of $1.17.

Darling Ingredients (DAR +1.64%) rallied over 6% in after-hours trading after it reported Q4 EPS of 25 cents, above consensus of 19 cents.

Veeva Systems (VEEV -1.02%) fell nearly 2% in after-hours trading after it forecast fiscal 2018 EPS of 78 cents-80 cents, below consensus of 80 cents.

TASER International (TASR -1.57%) gained over 1% in after-hours trading after it reported Q4 EPS of 12 cents, better than consensus of 10 cents.

CyberOptics (CYBE -1.01%) sank over 10% in after-hours trading after it reported Q4 revenue of $13.50 million, less than consensus of $14.21 million.

Builders FirstSource (BLDR +0.94%) climbed nearly 6% in after-hours trading after it reported Q4 net sales of $1.55 billion, higher than consensus of $1.50 billion.

Chuy's Holdings (CHUY +0.88%) fell over 3% in after-hours trading after it reported Q4 EPS of 14 cents, below consensus of 17 cents, and said it sees full-year EPS of $1.11 to $1.15, weaker than consensus of $1.19.

Big 5 Sporting Goods (BGFV -2.89%) jumped over 13% in after-hours trading after it said it sees Q1 EPS of 12 cents-18 cents, well above consensus of 6 cents.

Dynavax (DVAX +2.27%) surged over 20% in after-hours trading after it announced the FDA will review Dynavax's responses to the Complete Response Letter issued by the FDA in Nov 2016 for the Biologics License Application for HEPLISAV-B, Dynavax's vaccine for immunization against hepatitis B infection in adults 18 years and older.

MARKET COMMENTS

Mar E-mini S&Ps (ESH17 +0.51%) this morning are up +10.50 points (+0.44%) at a fresh record nearest-futures high. Tuesday's closes: S&P 500 -0.26%, Dow Jones -0.12%, Nasdaq -0.32%. The S&P 500 on Tuesday closed lower on the unrevised U.S. Q4 GDP of +1.9% (weaker than expectations of +2.1%) and some long liquidation ahead of President Trump's address to Congress on Tuesday night. Stocks were supported by the unexpected +3.2 increase in U.S. Feb consumer confidence (Conference Board) to 114.8 (stronger than expectations of -0.8 to 111.0 and a 15-1/2 year high) and the +7.1-point increase in the Feb Chicago PMI to 57.4 (stronger than expectations of +3.2 to 53.5 and the fastest pace of expansion in 2 years).

Jun 10-year T-notes (ZNM17 -0.61%) this morning are down -21.5 ticks. Tuesday's closes: TYM7 -0.50, FVM7 -2.75. Jun 10-year T-notes on Tuesday closed slightly lower on comments from New York Fed President Dudley (voter) who said the case for tightening had become "a lot more compelling" in recent months and on the +3.2 increase in U.S. Feb consumer confidence to 114.8, a 15-1/2 year high. Losses were limited after U.S. Q4 GDP was left unrevised at +1.9%, weaker than expectations of +2.1%.

The dollar index (DXY00 +0.74%) this morning is up +0.67 (+0.66%) at a 1-1/2 month high. EUR/USD (^EURUSD) is down -0.0043 (-0.41%). USD/JPY (^USDJPY) is up +0.99 (+0.88%) at a 1-1/2 week high. Tuesday's closes: Dollar index -0.01 (-0.01%), EUR/USD -0.0011 (-0.10%), USD/JPY +0.58 (+0.52%). The dollar index on Tuesday closed lower on the weaker-than-expected U.S. Q4 GDP report and long liquidation in the dollar ahead of President Trump's speech to Congress on Tuesday night. Losses were limited after New York Fed President Dudley said the case for tightening had become "a lot more compelling" in recent months.

Apr WTI crude oil prices (CLJ17 +0.26%) this morning are up +13 cents (+0.24%) and Apr gasoline (RBJ17 -1.14%) is -0.0205 (-1.19%). Tuesday's closes: Apr crude -0.04 (-0.07%), Apr gasoline -0.0123 (-0.71%). Apr crude oil and gasoline on Tuesday closed lower on the prediction from JBC Energy GmgH that OPEC Feb crude production rose by +55,000 bpd to 32.245 million bpd and by expectations that Wednesday's weekly EIA data will show U.S. crude inventories rose by +3.0 million bbl.

GLOBAL EVENT CALENDAR03/01/2017

		Wednesday, Mar 1
US	0700 ET	Weekly MBA mortgage applications, previous -2.0% with purchase sub-index -2.8% and refi sub-index -1.0%.
	0830 ET	Jan personal spending expected +0.3%, Dec +0.5%. Jan personal income expected +0.3%, Dec +0.3%. Jan PCE deflator expected +0.5% m/m and +2.0% y/y, Dec +0.2% m/m and +1.6% y/y. Jan core PCE deflator expected +0.3% m/m and +1.7% y/y, Dec +0.1% m/m and +1.7% y/y.
	0945 ET	Revised Feb Markit manufacturing PMI expected +0.2 to 54.5, prelim-Feb -0.7 to 54.3.
	1000 ET	Feb ISM manufacturing index expected unch at 56.0, Jan +1.5 to 56.0. Feb ISM new orders, Jan +0.1 to 60.4. Feb ISM employment, Jan +3.3 to 56.1. Feb ISM prices paid expected -1.0 to 68.0, Jan +3.5 to 69.0.
	1000 ET	Jan construction spending expected +0.6% m/m, Dec -0.2% m/m.
	1030 ET	EIA Weekly Petroleum Status Report.
	1300 ET	Dallas Fed President Robert Kaplan (voter) speaks at Paul Quinn College in Dallas, TX.
	1400 ET	Fed Beige Book.
	1800 ET	Fed Governor Lael Brainard speaks on the economic outlook and monetary policy at Harvard Universitys John F. Kennedy School of Government.
	n/a	Feb total vehicle sales expected 17.70 million, Jan 17.48 million. Feb domestic vehicle sales expected 13.65 million, Jan 13.60 million.
		Thursday, Mar 2
US	0730 ET	Feb Challenger job cuts, Jan -38.8% y/y.
	0830 ET	Weekly initial unemployment claims expected +1,000 to 245,000, previous +6,000 to 244,000. Weekly continuing claims expected unch at 2.060 million, previous -17,000 to 2.060 million.
	0830 ET	USDA weekly Export Sales.
	1100 ET	Treasury announces amount of 3-year T-notes (previous $24 billion), 10-year T-notes (previous $23 billion) and 30-year T-bonds (previous $15 billion) to be auctioned Mar 7-9.
	1900 ET	Cleveland Fed President Loretta Mester (non-voter) speaks on leadership at the Athena Center for Leadership Studies at Barnard College in New York.

U.S. STOCK CALENDAR03/01/2017

Company	Ticker	Time	Event Description	Period	Estimate
Mallinckrodt PLC	MNK US	4:30	Annual General Meeting	Y 2017
Lowe's Cos Inc	LOW US	Bf-mkt	Q4 2017 Earnings Release	Q4 2017	0.785
Dollar Tree Inc	DLTR US	Bf-mkt	Q4 2017 Earnings Release	Q4 2017	1.321
Best Buy Co Inc	BBY US	7:00	Q4 2017 Earnings Release	Q4 2017	1.667
Best Buy Co Inc	BBY US	8:00	Q4 2017 Earnings Call	Q4 2017
Honeywell International Inc	HON US	9:00	Investor Conference	Y 2017
Hershey Co/The	HSY US	9:00	Analyst Day	Y 2017
Lowe's Cos Inc	LOW US	9:00	Q4 2017 Earnings Call	Q4 2017
Universal Health Services Inc	UHS US	9:00	Q4 2016 Earnings Call	Q4 2016
Dollar Tree Inc	DLTR US	9:00	Q4 2017 Earnings Call	Q4 2017
TransDigm Group Inc	TDG US	9:00	Annual General Meeting	Y 2017
Ford Motor Co	F US	9:15	February 2017 Sales and Revenue Release	2017
Exxon Mobil Corp	XOM US	9:30	Analyst Meeting	Y 2017
Ford Motor Co	F US	10:00	February 2017 Sales and Revenue Call	2017
Mylan NV	MYL US	13:00	Investor Day	Y 2017
Monster Beverage Corp	MNST US	17:00	Q4 2016 Earnings Call	Q4 2016
Broadcom Ltd	AVGO US	17:00	Q1 2017 Earnings Call	Q1 2017
Monster Beverage Corp	MNST US	Aft-mkt	Q4 2016 Earnings Release	Q4 2016	0.302
Broadcom Ltd	AVGO US	Aft-mkt	Q1 2017 Earnings Release	Q1 2017	3.474
Equifax Inc	EFX US		Investor Meeting	Y 2017
Helmerich & Payne Inc	HP US		Annual General Meeting
McDonald's Corp	MCD US		Investor Meeting	Y 2017
Mylan NV	MYL US		Q4 2016 Earnings Release	Q4 2016	1.422