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$SYMC announced a target of $400MM in cost reductions to be achieved over the next two years. Over the next 18 months, $SYMC plans to eliminate $130MM of TSAs and stranded costs resulting from the sale of Veritas. $SYMC will return $5Bil in additional capital to shareholders by the end of March 2017.
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.