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Alex Potter of Piper Jaffray asks about the profitabiity of the Engine segment JVs. $CMI said the JV earnings did not grow but they represented a higher proportion of sales. Earnings are pretty level in most parts of the world. So there is no significant change in the underlying profitability of the businesses going forward.
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.