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$EQR said revenue growth revision is being driven by continued weakness in its New York portfolio and recent underperformance in its San Francisco portfolio. While occupancies and renewal rates in these markets continue to perform in line with expectations, new lease rates are not meeting original projections due to new rental apartment supply.
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.