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KeyBanc Capital Markets analyst Todd Thomas questioned about the overbuilding in markets where $PSA might be a little cautious over the next year or so. CEO Ronald Havner said that there are two markets, one is the Boroughs in New York, which materially have above average level, and Denver, which has about 40-50 properties to be developed.
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.