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During 2Q16 $CSC sold certain intangible assets to a third party for total consideration of $19MM of which cash consideration was received of $10MM. Consequently, $CSC recorded a gain on sale of $19MM as a reduction of cost of sales in its GIS segment. As of Oct. 2, 2015, $CSC had $14MM of outstanding receivables related to these sales.
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.