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Power company $SO reported a 9% rise in 2Q16 earnings on higher revenues. Net income rose to $638MM from $629MM last year, while EPS slid to $0.68 from $0.69 due to lower shares outstanding. Adjusted EPS grew to $0.77 from $0.71, driven by retail revenue effects and lower non-fuel operating and maintenance costs. Revenue rose 2.7% to $4.45Bil.
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.