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Specialty biopharmaceutical company $MNK's effective tax rate for 1Q16 fell by 24.9 percentage points from 1Q15. This was predominately due to recent acquisitions and reorganizations, which resulted in more income in lower tax rate jurisdictions and less income in higher tax rate U.S. jurisdiction relative to income in all jurisdictions.
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.