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Ben Swinburne of Morgan Stanley asks for an update on 3Q16 churn. CEO Reed Hastings said $NFLX has seen it persist through 2Q16 and into the early part of 3Q16. He added that the company is assuming that persists into 3Q16 and perhaps into 4Q16 as it continues to un-grandfather.
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.