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$OA now expects 2016 effective tax rate of about 28% and interest expense of about $70MM, which includes about $8MM due to non-cash interest related to certain adjustments required in purchase accounting. Pension funding is expected to be about $40MM and capital expenditures are projected to be about $200MM for 2016.
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.