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GPC Asia Pacific, $GPC's wholly-owned automotive distribution company in Australia said that it acquired Covs Parts Pty Ltd, maker of original equipment parts and truck products, from its parent company Automotive Holdings Group. This acquisition is expected to generate annual revenues of approx. $70MM.
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.