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Consulting firm $IBM said that 2Q16 revenue was $20.2Bil, pre-tax income was $3.5Bil and operating EPS of $2.95. The company continues to see strength in strategic imperatives and delivered 12% revenue growth led by cloud. $IBM continues to build as-of-service capabilities and cloud as-a-service revenue was up 50% with annual run rate of $6.7Bil.
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.