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$AXP said that it has realigned its segments to reflect the organizational changes it announced in 4Q15. Net income from US Consumer Services, $AXP's largest segment, grew 5% YoverY in 1Q16. Net income from International Consumer and Network Services fell 5% YoverY, Global Commercial Services fell 6% and Global Merchant Services fell 3%.
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.