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Kulbinder Garcha of Credit Suisse asks about cost savings and acceleration, the dollar cost savings number. $HPQ CFO Cathie Lesjak said that accelerating the restructuring from three years to FY16 has a huge labor component to it. The company expects the gross annual savings as a result of that pull in is going to be approx. $300MM.
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.