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$SHW 2Q15 Call – John, COO: Interest expense was $12.9MM, down $3.5MM vs. 2Q14. Consolidated profit before tax was up $78.5MM or 18.3% to $507.7MM. Effective tax rate was 31.1% vs. 32.1% in 2Q14. Consolidated net income was up $58.5MM or 20.1% to $349.9MM. Net income as a percent of sales was up 11.2% vs. 9.6% in 2Q14. Diluted EPS increased 25.9%.
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.