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$HOT 2Q15 Call: In the second quarter, Starwood opened 21 hotels with approx. 4,000 rooms, an increase of 5% from the second quarter of last year. We signed 64 deals for new hotels in the quarter, representing 14,400 rooms, nearly 70% increase. We can expect net rooms growth for Starwood in CY16 and beyond to be a backup to a level of 45%.
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.