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$WDC's research and development, or R&D, expense for 1Q16 decreased by 12% from last year. This decrease was primarily result of additional week of operating expenses during 1Q15 and lower incentive compensation in 1Q16 as compared to last year. As a percentage of net revenue, R&D expense rose to 11.5% from 11.1%.
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.