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In 3Q16, $NWS said the company recorded a tax benefit of $98MM on a pre-tax loss of $226MM resulting in an effective tax rate that was higher than the US statutory tax rate. $NWS also paid gross income taxes of $78MM during the nine months ended March 31, 2016 compared to $81MM a year ago and received income tax refunds of $1MM.
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.