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Imaging and surveillance systems company $FLIR reported a drop in 1Q16 earnings on negative impact of tax reserves related to ongoing dispute between the European Commission and the Belgium government over certain tax legislation. Net income fell to $1.13MM or $0.01 per share from $47.91MM or $0.34 per share last year. Adjusted EPS was $0.30.
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.