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Data storage devices maker $WDC reported a decline in 1Q16 earnings due to lower revenue. Net income was $283MM or $1.21 per share, down from $423MM or $1.76 per share in the same period of the previous year. Revenue fell to $3.36Bil from $3.94Bil. Non-GAAP EPS decreased to $1.56 from $2.10.
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.