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U.S, healthcare major $ABT reported lower 1Q16 results, hurt by foreign exchange losses. The company reported earnings of $316MM, or $0.04 per share, compared with $2.29Bil, or $0.35 per share a year ago. Worldwide sales of $4.9Bil increased 5.1% on an operational basis but fell 0.2% on a reported basis.
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.