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$KMB said its organization restructuring remains on track and generated $50MM of savings in 2Q16. Commodities continued to be favorable, delivering $20MM of benefit mostly from lower fiber costs. The company expects full year deflation of $25-125MM, which is broadly in line with its previous assumption.
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.