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$ADI expects 3Q16 revenue of $800-840MM, EPS of $0.60-0.68 and non-GAAP EPS of $0.66-0.74. For 3Q16, the company expects gross margin to be stable sequentially and operating expenses to be slightly up from last quarter. $ADI projects 3Q16 interest and other expense of $13MM, tax rate of about 13.5% and non-GAAP tax rate of about 12.5%.
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.