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Communications systems company $CMTL reported a net loss of $14.4MM or $0.89 per share for 3Q16 compared to a net income of $5MM or $0.30 per diluted share for 3Q15, hurt by higher expenses. Net sales grew to $124.2MM versus last year. The increase in net sales reflects incremental sales of approx. $66MM from the acquisition of TCS.
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.