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$ETFC 2Q15 Q&A: Harris of Wells Fargo, asked about covenants with debt as it relates to stock buybacks. Paul said, each debt instrument has different covenants. Most restrictive of them would put a limit of about $100MM on buybacks. $100MM is totality that would grow in scale with earnings. Covenants will go away on reaching investment grade status
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.