Charles Scharf, chief executive officer of Wells Fargo & Co., listens during a House Financial Services Committee hearing in Washington, D.C., U.S., on Tuesday, March 10, 2020. Andrew Harrer | Blo...
Tag: Wells
Recession-Ready Bank Stocks Can Rally 50% Next Year, Wells Fargo’s Mayo Says
(Bloomberg) — It’s about to be “showtime” for US banks stocks, with the group likely to surge by 50% next year even as the economy falls into recession, says veteran banking analyst Mike Mayo. M...
Oil Wells Creeping Into Texas Cities Herald Shale Era’s Twilight
(Bloomberg) — Each morning when Michael Quinn pulls into the parking lot of the luxury apartment complex he manages in West Texas and looks across the street, an unsightly vision blots the horiz...
More Penalties, Industry Bans Come From Wells Fargo Scandal
Over the last few years, it seems like Wells Fargo (WFC) – Get Free Report has come under investigation for no small number of regulatory infractions or discrimination practices. Just under a ...
Former Wells Fargo execs ordered to pay $18.5M over fake accounts scandal
Three former Wells Fargo executives face hefty fines over the mega-bank’s fake accounts scandal after a judge recommended they be forced to pay $18.5 million in collective penalties for failing ...
Ferrero to buy Halo Top owner Wells to further U.S. expansion
Halo Top pints of ice cream in Los Angeles, California. Kirk Mckoy | Los Angeles Times | Getty Images Candy maker Ferrero is buying Wells Enterprises, the ice cream giant that owns Blue Bunny, Blue Ri...
Wells Fargo, BofA CEOs say consumer demand is cooling, recession looms
Many shoppers say they plan to spend less this Black Friday as the cost-of-living crisis bites. Richard Baker | In Pictures | Getty Images American consumers are tapping the brakes on spending as the ...
A 5.4M Earthquake Shakes Up Oil And Gas Disposal Wells And Nuclear Waste Plans In The Permian Basin Of West Texas.
A road sign report of an earthquake in February 2016 in Oklahoma. Getty Images In the island of West Java, part of Indonesia, a moderate earthquake of magnitude 5.6 occurred on November 21, 2022. Beca...
Wells Fargo Tries Something New (and Customer Friendly)
For many Americans, living from paycheck-to-paycheck is a fact of life. Saving a bit of money at the end of the month in order to afford the next month’s rent is typically a significant financia...
JPMorgan Chase, Wells Fargo among potentially exposed FTX parties
FTX has named Kroll Restructuring Administration as its agent as it navigates the federal bankruptcy process and cited dozens of companies and people affected by its collapse, a petition filed by the...
Wells Fargo, HSBC Add Offshore Yuan to Blockchain Foreign-Exchange System
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Wells Fargo Faces Huge Fine After Latest Scandal
If you’re banking with the San Francisco-based mega-bank Wells Fargo (WFC) – Get Free Report, you’ve likely noticed that the company just can’t seem to stay out of hot water. The la...
Wells Fargo Embroiled in Yet Another Scandal
Sending money to family or making a rent payment through Zelle has many perks — it is immediate and does not come with the fees commanded by many traditional e-transfers. The instant payment ser...
Improving Chinese import data good for Estee Lauder, Wells Fargo says
Wells Fargo (WFC) on Tuesday raised its price target on Club holding Estee Lauder (EL) to $225 from $215 on the back of an improvement in cosmetics- and duty-free imports to China, a crucial market fo...
Wells Fargo’s downgrade of Costco underappreciates value
Wells Fargo downgraded Club holding Costco (COST) in a rare move Monday, citing “brewing headwinds” to the wholesale retailer’s growth momentum. We think this call is a mistake and s...
Wells Fargo Faces US Demand for Record Fine Exceeding $1 Billion
(Bloomberg) — Wells Fargo & Co. is under pressure from the Consumer Financial Protection Bureau to pay more than $1 billion to settle a series of investigations into mistreatment of customer...
Wells Fargo mortgage staff brace for layoffs as U.S. loan volumes collapse
Mortgage volumes at Wells Fargo slowed further in recent weeks, leaving some workers idle and sparking concerns the lender will need to cut more employees as the U.S. housing slump deepens. The bank h...
Paramount stock no longer deserves a premium multiple: Wells Fargo
Paramount Global (NASDAQ: PARA) has been in a downturn over the past seven months but a Wells Fargo analyst warns the pain is not over just yet. Paramount stock could crash to $13 On Monday, Steven Ca...
Disney stock price forecast: Wells Fargo sees a 40% upside
Walt Disney Co (NYSE: DIS) ended roughly flat on Monday even after a Wells Fargo analyst said it was his top pick in media stocks. Disney stock could climb to $145 Things will be more exciting, though...
Here’s what the Wells Fargo cross selling scandal means for the bank
Wells Fargo is one of the oldest and most powerful banks in the United States. Its reputation today is in tatters, following a notorious scandal that is still unfolding. Reports of fraudulent activity...
Jim Cramer says to buy Wells Fargo stock to capitalize on the Fed’s rate hikes
CNBC’s Jim Cramer on Monday advised investors to add Wells Fargo to their shopping lists. “Wells Fargo has now taken the lead as the best net interest margin play in the group, and their m...
Cloudflare should be a $65 stock: Wells Fargo
Cloudflare Inc (NYSE: NET) ended more than 10% up on Monday after a Wells Fargo analyst turned bullish on the content delivery and cybersecurity company. Cloudflare could climb another 30% On Monday, ...
Wells Fargo WFC Q3 2022 earnings
Pedestrians pass a Wells Fargo bank branch in New York, U.S., on Thursday, Jan. 13, 2022. Victor J. Blue | Bloomberg | Getty Images Wells Fargo said Friday that it is still seeing historically low loa...
Mortgage Rates Drop For First Time In 6 Weeks—But Housing Market Downturn Could Last Several Years, Wells Fargo Warns
Topline Despite mortgage rates falling for the first time since mid-August, experts are warning the higher borrowing costs that have tanked the housing market this year could stick around for at least...
One Big Option Trade Fueled S&P 500’s Midday Jump, Wells Fargo Says
(Bloomberg) — One giant options transaction may have sparked the S&P 500’s bounce on Wednesday, according to Wells Fargo & Co. Most Read from Bloomberg The trade, which involved buying a...
Peloton, Tesla, Viasat, Wells Fargo, Box and more
A Tesla electric vehicle at a supercharger station in Hawthorne, California, on Aug. 9, 2022. Patrick T. Fallon | AFP | Getty Images Check out the companies making the biggest moves midday Monday: Cre...
Wells Fargo to Sell Coinbase Stock, COIN Plunges by 3% Immediately
Arman Shirinyan One of biggest financial holdings in world expects Coinbase to fall even lower Contents Macro pressure on market Rising competition One of the world’s biggest financial holdings,...
Wells Fargo Flags Major Concerns Over Coinbase
Wells Fargo, a multinational financial services company has flagged a major concern against Coinbase, which can lead to a dip in the Crypto exchange share prices. Coinbase share prices to drop? Accord...
Coinbase Stocks Plummet 10% as Wells Fargo Says ‘Sell’ (Report)
The bear market has been tough for everyone, and holding on to Coinbase shares may not be wise, according to Wells Fargo. The multinational financial services company issued a profitability warning st...
Wells Fargo downgrades Lockheed Martin despite the Ukraine war
Lockheed Martin Corporation (NYSE: LMT) is up 13% versus the start of 2022 but a Wells Fargo analyst says it’s pretty much as far as it goes. Lockheed Martin is fairly priced On Wednesday, Matthew Ake...
Wells Fargo Reportedly Plans Staff Reductions—Here Are The Major U.S. Layoffs This Year
Wells Fargo reportedly announced plans for its 10th round of layoffs since April, making it the latest U.S. company to reassess its headcount as employers fear the economy could slide into recession. ...