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In FY16, $EA's effective tax rate was a benefit of 31.8%, mainly due to the reversal of the US deferred tax valuation allowance. Excluding the impact of the valuation allowance reversal, effective tax rate would have been 19.8%, which differs from the statutory rate of 35% mainly due to non-US profits subject to a reduced or zero tax rates.
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.