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Communications company $CTL reported a 37.1% jump in 2Q16 earnings driven by lower operating expenses despite a decline in revenue. Net income rose to $196MM or $0.36 per share from $143MM or $0.26 per share last year. Revenue slid 0.5% to $4.4Bil. Adjusted EPS increased to $0.63 from $0.55.
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.