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Construction and mining equipment maker $CAT posted lower earnings in 2Q16, hurt by lesser revenue and operating profit compared to 2Q15. Profit for the quarter was $550MM or $0.93 per diluted share compared to $802MM or $1.31 per diluted share a year ago. Total sales and revenues were $10.3Bil, a decline of $1.98Bil or 16% from $12.32Bil in 2Q15.
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.