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Bank-based financial services company $KEY posted higher 2Q16 earnings due to higher income before income taxes. Net income from continuing operations was $193MM, or $0.23 per diluted EPS vs. $230MM, or $0.27 per diluted share in 2Q15. Revenue was stable from 2Q15 and was up 3% from 1Q16.
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.