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For 1Q16, $MAT expects sales to be down slightly in constant currency and more so as reported due to foreign exchange headwinds. $MAT estimates currency will impact net revenues by approx. 2-4% and adjusted EPS by $0.30-0.40 in 2016. The company expects about 50% GM. $MAT expects to deliver cost savings at the high end of $250-300MM by 2016-end.
The latest earnings report by $VZ shows how it is losing customers despite offering the unlimited data plans, a record for the company.
$BEBE is closing down all its stores by the end of May.
$WFC agreed to hike its payout in a class-action settlement over unauthorized accounts by $32 million to $142 million for its retail sales practices. The settlement will now include customers who were impacted as early as May 2002.