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$JEC said in Petroleum & Chemicals, the upstream oil and gas sector is under the most pressure. Oil production in the Middle East continues to rise. Margins are under significant pressure due to heavy competition. Refining business remains positive especially in maintenance, turnaround and sustaining capital projects.
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.