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$MA, a Purchase, New York-based financial services company, posted lower 1Q16 results, unfavorably impacted by $0.08 due to the non-recurrence of a discrete tax credit and balance sheet remeasurement related to Venezuela in 1Q15. $MA said net income fell 6% to $959MM, or $0.86 per share, and revenue rose 9.6% to $2.4Bil.
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.