These were not news, that was in the data published last night, I think they knew their tax rate will be around 20% instead of 29% and thus accelerated some marketing and product launch (thus the excessive SG&A this quarter). Yes, COO could drop to the $20/21 area (maybe even to around $19 the July lows?) particularly if the markets get excessively week here instead of the ramp I expect.
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