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In 2Q16, $ZION's non-interest expense fell 4.3% from 2Q15, and adjusted for items like severance, the decline was 2.6%. Decline in non-interest expense was mainly due to decline in salary and benefits. Specifically, severance fell $3MM; stock-based compensation and retirement plan matching fell $9MM, and payroll taxes fell $4MM versus 2Q15.
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.