Company
Wells Fargo & Co
NYSE:WFC
Wells Fargo & Co is a leading financial services company that has approximately $1.9 trillion in assets. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through its four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management.
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Wells Fargo shares rise on 3Q earnings beat; bank braces for potential recession
Wells Fargo also reported earnings of $1.30 per share, which topped Street expectations of $1.09, and operating losses of $2 billion
US stocks round out the week with big gains across the board
At the close, the S&P 500 had gained 1.9% at 3,863 points, while the Dow finished 2.2% ahead at 31,288 and the Nasdaq rounded out the trio with a gain of 1.8% to end the day at 11,452 points
Wells Fargo joins Wall Street rush into crypto
Wells Fargo Clearing Services will receive placement and servicing fees
Bitcoin mounts recovery following crypto crash
The digital currency was trading back above US$40,000 on Thursday morning, coming off Wednesday's low of just under US$32,000 at the peak of the selloff
Wells Fargo shares up in premarket trading after the bank names Charles Scharf as CEO
Scharf was most recently Bank of New York Mellon's chairman and CEO, and had also previously served as Visa's chief executive
LATE MOVERS: Netflix falls on Disney+ announcement; Chevron inks megadeal to acquire Anadarko
Also moving Friday were JP Morgan, Wells Fargo, Disney and UnitedHealth
Investments and investor services
Canadian markets close down, mirroring global markets
The IMF cut Canada's economic growth forecast nearly half a percentage point to 1.5% in its new World Economic Outlook
Wall Street ends down after muted JOLTS report, Trump's EU tariff tweet
Investors also cast eyes on impending earning reports from banks, including JP Morgan Chase and Wells Fargo on Friday
Investments and investor services
LATE MOVERS: Celgene rallies after advisory groups back its merger with Bristol-Myers; RH stock loses a screw
Also making moves Friday were DowDuPont and CarMax
Buds & Duds: Youngevity rallies on deal to buy Khrysos Global for US$16M in cash and stock
Also on the move are Canopy Growth, 1933 Industries, Canntab Therapeutics and iAnthus Capital
Investments and investor services
Stocks close higher on tech company rally, outlook for China stimulus
Comments from the People’s Bank of China suggesting efforts to spark economic growth helped lift equities
Small-Cap Snapshot: WD-40 Co declines as CEO warns of sales volatility
Bed Bath & Beyond rose after saying it's ahead of plan regarding its goal of moderating declines in its operating profit
Berkshire Hathaway’s 13-F filing reveals Warren Buffett added $4B stake in JPMorgan
Buffett’s company bought a new stake in JPMorgan and upped its investment in Apple
Investments and investor services
JPMorgan Chase and Citigroup beat Wall Street's 3Q earnings forecasts while Wells Fargo falls short
JPMorgan's consumer and community banking division drove profits higher in the quarter while Citi's profits were boosted by corporate tax changes
EARLY MOVERS: Starbucks shares froth up as it reveals possible lay-offs, while Michael Kors investors turn off after Versace deal
Also in the frame before the bell was Faceboom and the Instagram founders as well as Jimmy Choo Plc..
EARLY MOVERS: Wells Fargo in focus as it unveils jobs cull; while Pier 1 Imports shares take a dive
Also in the frame before the New York bell was United Natural Foods Inc and Sarepta Therapeutics Inc..