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$BDC said it successfully closed mandatory convertible preferred stock offering, providing for net proceeds of $501.6MM. $BDC still sees 3Q16 revenue of $593-613MM and its adjusted revenue of $595-615MM. $BDC lowered its 3Q16 EPS outlook to $0.51-0.61 from prior range of $0.66-0.76, and its adjusted EPS forecast to 1.20-1.30 from $1.35-1.45.
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.