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$LEN had approx. $511MM of homebuilding cash and $500MM of borrowings under its $1.6Bil revolving credit facility in 1Q16. In March, $LEN issued $500MM of 5-year senior notes at 4.75% which will be used for working capital and to retire its $250MM 6.5% senior notes. This will reduce the borrowing rate while extending maturities.
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.