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Payments solutions company $PAY reported a decrease in 2Q16 earnings due to difficult market dynamics. Net income decreased to $2.9MM or $0.03 per share in 2Q16 compared to $17.6MM or $0.15 per share in 2Q15. Total net revenues grew 7.4% to $526.3MM from last year. Non-GAAP net revenues were $532MM and non-GAAP EPS was $0.47 in 2Q16.
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.