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Banking company $MBFI reported 1Q16 net income of $39.11MM or $0.54 per diluted share, up 14.7% versus $34.11MM or $0.50 per diluted share in 1Q15, helped by higher net interest income after provision for credit losses. Net interest income on a fully tax equivalent basis increased in 1Q16, mainly due to a rise in average interest earning assets.
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.