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Chip equipment maker $LRCX reported lower 1Q16 results, hurt by lower demand and higher expenses. The company posted earnings of $143.5MM, or $0.82 per share, compared with $206.3MM, or $1.16 per share a year ago. Revenue fell 8% to $1.31Bil. Margins fell 40 bps.
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.