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$RAI said it ended 2Q16 with $1.9Bil in cash balances, which takes into account R.J. Reynolds' MSA payment of $2.3Bil in April 2016. In line with its previously stated commitment to deleverage as quickly and efficiently as possible, the company plans to repay its outstanding $500MM bond that matures on Aug. 4, 2016 with available cash on hand.
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.