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Data-storage equipment maker $EMC reported a rise in 2Q16 earnings driven by higher-than-expected build in unshipped storage product orders on bookings timing. Net income rose to $581MM or $0.29 per share from $487MM or $0.25 per share last year. Revenue grew to $6.02Bil from $6Bil. Non-GAAP EPS increased to $0.45 from $0.43.
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.