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Biopharmaceutical major $BXLT reported a 14% jump in 1Q16 revenue, but quarterly profit fell on higher costs. The company, focused on hemophilia treatment, reported earnings of $145MM, or $0.21 per share, down from $272MM, or $0.38 per share a year ago. Revenue rose to $1.55Bil. Expenses rose by 36%.
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.