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During 2Q16, $WAB's sales fell 15% to $724MM vs. 2Q15, hurt by difficult market conditions, especially in Freight segment. Freight sales fell 26% or about $145MM due to lower sales from PTC, Freight OVM, Freight aftermarkets and other segment products. Transit sales rose in 2Q16, driven by organic sales growth of about 14% & acquisitions of $6MM.
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.