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Credit rating agency $MCO posted a 20% YoverY drop in 1Q16 net income to $184.4MM, or $0.93 per diluted share. Revenue fell 6% to $816.1MM, with foreign currency translation unfavorably impacted revenue by 2%. Reduced global bond issuance in the quarter weighed on Moody's financial performance, the company said.
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.