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$SWKS expects 3Q16 GM to be 51%, up 200 BP versus 4Q15, and OpEx flat versus 2Q16 at about $108.5MM. Company expects about $1MM in interest and other expenses, and a cash tax rate of 14.5-15.0%. Tax rate is expected to remain in this range for remainder of FY16. Company expects share count to be about 192.5MM shares in 3Q16.
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.