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Lisa Ellis with Sanford Bernstein asks about the overall IT budget. $CTSH said it has seen no evidence that IT budgets overall are coming down. As a overall picture, the budget is flat to up. Net net there is a shift going on and firms having capabilities on both sides; run the business and change the business, stand to benefit from that migration.
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.