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$MSM said that it expects 3Q16 GM to be 45%, plus or minus 20 BP, which is essentially flat with 2Q16 and continuing the trend of sequential stability. 3Q16 OpEx is expected to be slighty higher than 2Q16 and $MSM is offsetting nearly all increases in variable expenses and investments with productivity and savings.
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.