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$STX said it lifted 4Q16 revenue guidance to about $2.65Bil from prior forecast of about $2.3Bil, and non-GAAP gross margin outlook to about 25.8% from prior estimate of 23%. The difference in forecast of revenue was driven by better than expected demand for HDD product portfolio. Non-GAAP operating expenses are still expected to be about $440MM.
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.