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Content delivery network $AKAM said that during 2Q16, the Media Division's OTT business continued to grow at a rapid rate. The company said that it will begin delivering the Rio Olympics over the Internet for 50 customers and partners around the world. The Web Division's Cloud Security business also saw strong growth in 2Q16.
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.