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$HRL said that 4Q15 results included pretax non-recurring charges of $21.5MM relating to a goodwill impairment charge for the Diamond Crystal Brands business, which is now held for sale. Advertising spend was $29.6MM, up 32%. Equity and earnings of affiliates surged to $8MM from $5.7MM in 4Q14, helped by improved earnings at MegaMex joint venture.
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.