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$IPG's 1Q16 operating profit was $21MM vs. $8MM in 1Q15. The company said that during the quarter, it continued to combine growth with effective expense discipline. $IPG achieved leverage on its expenses per base payroll, benefits in tax, and office and general expense, resulting in operating GM expansion of 70 BP in 1Q16.
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.