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In 4Q16, $FN's revenue from new business represented 27% of total revenue. Optical communications represented 77% of total revenue. Optical revenue grew 44% from a year ago to $212MM while non-optical revenue increased almost 10% to $64.4MM. Within optical, the revenue split was 58% on telecom applications and 42% from datacom applications.
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.