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Integrated oil company $HES said that in 2Q16, it reduced E&P capital and exploratory expenditures by 52% from 2Q15 to $485MM. The company now projects its full-year 2016 capital and exploratory expenditures to be $2.1Bil, about 48% below 2015 levels and $300MM lower than its previous forecast. Efforts are underway to make further reductions.
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.