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In terms of O&G loan loss expectation, $ZION has estimated about $100MM for 2016. John Pancari from Evercore asked the reason for expecting higher loss, given the oil price improvement. CFO Paul Burdiss said the estimate is based on the concern about the volatility of price of oil in Jan. and Feb., and decline in the price of natural gas.
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.