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During 2Q16, $NOV put in additional cost reduction steps of over $400MM in annualized savings that will flow in over the next few quarters. Plans developed and actions taken during the quarter are on top of considerable work performed already having reduced the annual personnel cost well over $2Bil from peak levels.
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.