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For 3Q16, $UAL expects passenger unit revenue to decline approx. 5.5-7.5% YoverY with domestic and international PRASM in the same ranges. $UAL expects non-fuel unit costs to grow 2.5-3.5% in 3Q16. 3Q16 pretax margins will be 13.5-15.5%. In 2016, unit costs will grow 2-3% despite reducing capacity by almost 1 point vs. initial expectations.
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.