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$MSFT sold 5.8MM Lumia phones and 25.5MM other non-Lumia phones in 1Q16, down from 9.3MM and 42.9MM phone sales in the previous year quarter. $MSFT's Xbox Live revenue grew 17% in 1Q16 driven by both higher volumes of transactions and revenue per transaction. Video games revenue jumped 66% in 1Q16, driven by sales of Minecraft.
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.