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Data storage giant $STX reported a rise in 1Q17 earnings driven by strong position to grow its businesses, improved margins and cash flow as well as lower operating expenses. Net income rose to $167MM or $0.55 per share from $34MM or $0.11 per share last year. Revenue fell to $2.8Bil from $2.93Bil. Non-GAAP EPS increased to $0.99 from $0.54.
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.