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Wells Fargo analyst William Warmington questions on the progression of organic growth for the year. $CVG CFO Andre Valentine says that for 2Q16, it would be down 3-4% sequentially. By applying some currency impact YoverY, it would be down about 1%. Due to the YoverY GAAP shrink, there will be modest YoverY growth in 2H16.
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.