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Schaumburg, Illinois-based $MSI said the company expects operating expenses to be $1.45Bil for FY16, down $120MM vs. 2015, inclusive of Airwave. Also for FY16, adjusted EBITDA is expected in the range of $1.62-1.66Bil, an increase of approx. 25%. Operating cash flow is expected to be $1.1-1.2Bil and free cash flow of $825-900MM 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.