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$SYY 4Q15 PR: Net earnings were $73MM, a decrease of $181MM, or 71%, vs. 4Q14. Diluted EPS was $0.12, which was 72% lower compared to the same period last year. OpEx increased $368MM, or 21%, vs. 4Q14, primarily due to $313MM in merger termination expenses. Operating income was $121MM, a decrease of $304MM, or 72%, vs. 4Q14.
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.