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Deepwater drilling contractor $DO reported 1Q16 net income of $87.4MM or $0.64 per diluted share versus a net loss of $255.7MM or $1.86 per diluted share in 1Q15, mainly due to the presence of a $358.5MM of impairment charge in 1Q15. Revenue fell 24% to $470.5MM in the quarter, mainly due to lower contract drilling revenue.
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.