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Aerospace and defense technology firm $NOC said that its 1Q16 operating costs and expenses as a percentage of sales rose vs. 1Q15 bringing down the operating margin rate to 12.4%. The increase in operating costs and expenses was driven by $34MM of lower segment operating income and a $9MM decrease in net FAS/CAS pension adjustment.
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.