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$BABY also updated its 3Q16 revenue guidance and said that the company has cut its guidance to $89-91MM from the previously announced guidance of $97-98MM. $BABY added that the majority of the expected shortfall is due to a voluntary ship hold the company placed on certain products produced in its Seattle facility.
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.