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Oil and natural gas company $XOM reported a 59% dip in 2Q16 earnings due to sharply lower commodity prices, weaker refining margins and continued strength in the Chemical segment. Net income fell to $1.7Bil or $0.41 per share from $4.19Bil or $1.00 per share last year. Total revenue dropped to $57.69Bil from $74.11Bil.
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.