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$AVGO said that on March 2, 2016, its BoD approved the implementation of cost reduction activities related with the Broadcom Transaction. Related to this action, $AVGO expect to eliminate approx. 1,900 positions across all business and functional areas on a global basis. The company also expects to take charges of approx. $650MM through FY18.
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.