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$STJ said that for FY16 the company continues to expect gross profit margin to be in the range of 69-69.5%, which includes the expectation of continued weakness in the US CRM business. R&D expenses in 1Q16 were 13% of net sales and for FY16 $STJ expects R&D expense to be in the range of 12.5-13% of net sales.
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.