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Richard Safran of Buckingham Research Group asks about the margin profile of the F-35. CFO Bruce Tanner said F-35 margins are going to vary over time but $LMT expects them to increase sequentially and YoverY. The company expects that by the time it gets to full-rate production, margins on the F-35 will look similar to F-16 and F-22 margins.
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.