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$MMM said that free cash flow conversion was 74% in 1Q16, up 8 percentage points YoverY. The company generated $1.3Bil of operating cash flow in 1Q16, with CapEx of $314MM. The company expects CapEx investments in the range of $1.3-1.5Bil for 2016.
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.