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$STX 4Q15 Call: For 1Q16, OpEx is targeted to be flat sequentially at approx. $515MM. STX plans to address additional savings opportunities through the end of the calendar year and expects OpEx will be comfortably under $500MM a quarter in 2H16. These actions will decrease total OpEx by at least 10% for FY16.
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.