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$MO's BoD authorized expansion of current $1Bil share repurchase program to $3Bil, expected to close by end of 2Q18. $MO expects to record total estimated pre-tax gain in reported earnings of about $13.7Bil, or $4.55 per share, substantially all will be recorded in 4Q16 as gain. $MO will use equity method of accounting for investment in $BUD.
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.