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Chipmaker $SWKS reported a decline in 3Q16 earnings due to lower revenue as well as higher operating expenses. Net income fell to $185MM or $0.97 per share from $207.4MM or $1.06 per share last year. Net revenue dropped to $751.7MM from $810MM. Non-GAAP EPS decreased to $1.24 from $1.34.
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.