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Diversified power generation company $AES reported 1Q16 net income of $74MM or $0.19 compared to $254MM or $0.20 in 1Q15. Revenue was $3.5Bil versus $4Bil in the previous year. 1Q16 adjusted EPS fell $0.12 to $0.13, due in part to an increase of $0.04 in tax expense, reflecting an adjusted effective tax rate of 50% versus 33% in 1Q15.
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.