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$L's CFO David Edelson said that for 1Q16, Boardwalk's and Diamond Offshore's contributions to its net income rose YoverY, while contributions from CNA and Loews Hotels fell. Parent company investment portfolio generated an after-tax loss of $8MM in 1Q16 vs. an income of $19MM in 1Q15, reflecting lower performance of alternatives and equities.
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.