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Utility services holding company $EXC reported a decrease in 1Q16 results. Net income dropped to $173MM or $0.19 per share in 1Q16 compared to $693MM or $0.80 per share in 1Q15, hurt by the PHI merger-related costs and impairments. Adjusted net income was $632MM and adjusted diluted EPS was $0.68.
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.