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New York City-based credit card provider $AXP reported 4Q15 net income of $899MM, down from $1.4Bil a year ago. The strong US dollar appreciation had an impact on revenues and expenses and suppressed earnings in both quarters. Diluted EPS was $0.89, or $1.23 on an adjusted basis excluding the Enterprise Growth Group charge, versus $1.39 a year ago.
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.