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$KNDI 2Q15 Call: G&A expenses were $3.8MM, up 21.2% YoverY. JV Financials: net sales was $68.9MM; gross profit was $10.7MM; and the net profit was $1.6MM. KNDI recorded 50% of JV company profit, which is $0.8MM for 2Q15. Stock compensation expense increased by $2.5MM vs. 2Q14. Cash used in operating activities was $3.2MM vs. $34.1MM in 2Q14.
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.