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$AIT said that it has captured approx. two-thirds of its annual estimated ongoing savings of $7.8MM from restructuring activities in FY16. The remaining benefits will flow through the income statement in July. 4Q16 effective income tax rate of 35.6% was a bit higher than projections due to lower foreign earnings negatively impacting the rate.
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.