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$FTI reported a fall in 2Q16 profit as its energy customers pulled back spending due to weak oil prices, but CEO John Gremp says there are indications that the spending will improve. The oil and gas prices have recovered from their lows and this should improve the cash flows. "As confidence improves, we anticipate spending will follow," Gremp 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.