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$BEN reported a 11% drop in 3Q16 earnings due to lower operating revenues. Net income fell to $446.4MM or $0.77 per share from $504.2MM or $0.82 per share last year. Operating revenues dropped 18% to $1.63Bil. Total assets under management fell 16% to $732.1Bil, due to net new outflows partially offset by market appreciation and other.
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.