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Sven Eenmaa of Stifel asks about the growth rates seen in the new construction versus retrofit and renovation market. CEO Vernon Nagel said $AYI's mix of business is 50% renovation, 50% new construction. He added that it is probably tilting a little bit more towards renovation and over time it may even tilt more due to the enormous installed base.
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.