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$WDC expects to achieve $350MM of savings on COGS on an annualized basis, of which 50% will occur by end 2016 and balance by end 2017, versus earlier estimate of $250MM by end 2017. $WDC expects cash expense to achieve these savings to be about $800MM, and expects 60% of the savings to be incurred in 2016 and balance in 2017.
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.