Reduce: 4Q16 – A mixed bag PNG LNG gas reserves increased 4Q16 results miss driven by lower sales Strong quarter and guidance Solid results, upbeat cost guidance We continue to see downside risk to consensus How might tax reform impact U.S. HPC, Beverage, and Tobacco stocks? Consumer & Media Daily Solid Q4 EBITDA beat, growth story on track Strong FCF generation in 2016, rest in-line