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Electric motor maker $RBC reported a lower quarterly profit, hurt by a 11% fall in revenue. The company reported 2Q16 earnings of $58.4MM, or $1.26 per share, compared with $62.8MM, or $1.39 per share a year ago. Total net sales of $838.6MM decreased 11.0% from the prior year and included a negative 1.0% foreign currency translation impact.
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.